Biometric forms of identification are likely to become more widespread following the implementation of the European Union's Payment Services Directive (PSD2) in January, according to Mastercard. Among other things, the rules increase the number of transactions that require two-factor authentication. The company predicted the percentage of transactions that will require cardholder authentication to close online sales will increase from up to 25%, suggesting a growing need for technologies such as facial recognition and thumbprint and AI authentication technology.
Biometric forms of identification are likely to become more widespread following the implementation of the European Union's Payment Services Directive (PSD2) in January, according to Mastercard. Among other things, the rules increase the number of transactions that require two-factor authentication. The company predicted the percentage of transactions that will require cardholder authentication to close online sales will increase from between 1% and 2% to 25%, suggesting a growing need for technologies such as facial recognition and thumbprint and AI authentication technology.