By 2018 it is expected that mobile payment will take up 30% of all online transaction. In line with this rapid growth of mobile transaction, Master Card and Visa are working together to roll out a new security standard. Therefore the existing 3D Secure protocol will gradually be replaced with “invisible authentication” in 2015.
“All of us want a payment experience that is safe and simple, not one or the other,” said Ajay Bhalla, President of Enterprise Security Solutions at MasterCard. “We want to identify people for who they are, not what they remember. We have too many passwords to remember and this creates extra problems for consumers and businesses.”
The new Mastercard’s biometric thumbprint card will require no password from shoppers, just your thumb. Following successful trials in Norway, Mastercard is ready extend their services to banks in United Kingdom.