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  • 10.04.16

With “pay by selfie,” Mastercard looks to compete in mobile payments

The U.S.-based payments company, best known for its credit cards, today introduced a “selfie” identity check option for customers in 12 European countries. By taking a selfie (or offering a fingerprint) at the point of sale, customers will be able to forego the standard PIN or password. Mastercard, which calls the feature “Identity Check Mobile,” plans to expand to additional countries in 2017.

Mobile payments, last year worth $35 billion, remain a small fraction of the overall payments market but are growing rapidly. Technology companies like Apple are also vying for positioning, with solutions like Apple Pay. AH