2016 Winner: MasterCard

2016 Winner: MasterCard

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MasterCard, a first-time honoree in the CNP Awards, received the Judges Choice Award for Best Mobile Solution. In addition to its position as a global payment network, MasterCard is an innovative technology company. It operates its processing network in more than 210 countries and territories, striving for a world with better ways to pay, "a world beyond cash.” A global consumer survey by MasterCard confirmed that more than half of people want to replace passwords with something more convenient, which still delivers the same levels of protection and peace of mind. As a result, MasterCard has launched the Identity Check app, the first solution born out of the MasterCard Identity Check brand, which allows cardholders to verify their identity when shopping online through biometrics. Users either scan their fingerprint or look into the camera of their smartphone or tablet—like taking a selfie photo—to verify themselves to secure the payments. Identity Check, dubbed “Selfie Pay”, has been in development since March 2014. It makes authenticating transactions faster, simpler and more secure by eliminating the need to remember passwords to verify your identity when shopping online. In other words, it verifies consumers based on who they are (biometrics) rather than what they can remember (passwords). MasterCard points out that eliminating passwords saves time, improves the consumer experience and can make payments safer. What’s more, the company says, it removes one of the biggest causes of online cart abandonment: forgetting a password. In this way, it is a first-of-its-kind technology, advancing biometrics in the financial payments space. Identity Check is set to roll out in the U.S., Canada and the U.K. in the summer of 2016 with more markets to be announced soon.

  1. Award Text 1 Judges Choice – Best Mobile Solution

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