Biometric Checkout, the next evolution in payments, is here, replacing authentication credentials with a unique and secure process. Passwords and PINs are substituted with physical attributes, providing customers with a simple and secure payment experience—no need for bank cards, mobile phones, or wearables; just smile or wave.
Shaun Hulley, Stanchion’s Director of Global Sales Engineering, emphasizes the importance of retailers adapting to consumers’ desire for faster and more convenient shopping experiences, especially post-pandemic. The rise in demand for touchless payment options makes biometric checkout a valuable solution, meeting customers’ expectations using trusted technology like face recognition or fingerprints.
Reshaping the payments industry
Mastercard’s Biometric Checkout Program, launched last year, sets a global framework for enabling biometric checkout solutions, allowing various participants beyond proprietary solutions. Enrolled stores offer customers the option to sign up for biometric checkout services either in-store or at home through an identity provider app. Checkout involves smiling into a camera or placing a hand over a reader, providing a secure and convenient alternative to traditional methods.
Security
Security standards are outlined in the program, ensuring the highest levels of personal data security and privacy when using biometrics. Biometric Service Providers (BSPs) must undergo certification with Mastercard to guarantee the security of their solutions, with additional features like liveness detection to prevent fraudsters from circumventing authentication.
Benefits
Biometric checkout offers benefits for both customers and merchants. It provides a fast, secure, and frictionless point-of-sale experience, eliminating the need for cards or phones. Loyalty cards and coupons can be digitally added to the wallet, and automatically retrieved during checkout. Merchants enjoy shorter checkout queues, reduced friction, and enhanced security with biometric protection and tokenization. This innovative approach also allows merchants to offer an enriched shopping experience with integrated loyalty offerings or coupons in customers’ digital wallets.
Stanchion integrates into Mastercard’s Biometric Checkout Program as a Payment System Integrator, collaborating with Biometric Service Providers (BSPs) to deliver biometric checkout solutions.
Its expertise, spanning over two decades, solidifies its commitment to driving payment change globally. Stanchion eagerly embraces biometric checkout innovation, ensuring a smooth transition for clients and customers in the evolving payments landscape.