Mastercard Launches Biometric Payments Program In Stores To Compete With Amazon; Explores Using Metaverse, AR Headsets For Purchases

  • Mastercard Inc MA launched a controversial biometric payments program in stores to keep pace with bigger competitors like Inc AMZNthe Financial Times reports.
  • Facial recognition technology faced flak from civil rights groups about data storage and data sharing.
  • Mastercard will launch the first pilots this week at five supermarkets run by the St Marche chain in Brazil.
  • The facial recognition software will come from companies including Japan's NEC, Brazil's Payface, and California-based PopID.
  • Retailers that sign up for its pilot scheme can allow customers to pay in-store with a smile or a wave. 
  • The system, which mandates customers to enroll, could translate into loyalty programs and purchase history. 
  • Mastercard looks to allow consumers to use a single enrolment to pay across different stores, with further pilots planned across regions including Asia, the Middle East, and Europe.
  • Mastercard could act as the "enabler of the ecosystem," setting unified privacy and security standards for a technology that has raised the hackles of privacy and data protection campaigners, Mastercard's cyber and intelligence President said.
  • Mastercard analyzed using augmented reality headsets for purchases. 
  • Mastercard also aimed to create identities in the "metaverse" using blockchain technologies. 
  • Price Action: MA shares traded higher by 1.77% at $335.57 on the last check Tuesday.
  • Photo via Wikimedia Commons
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