First Tech Federal Credit Union announced a pilot program with MasterCard that will enable First Tech employees to authenticate and verify transactions using facial recognition and fingerprint biometrics.
Shoppers are using a larger variety of payment options with digital and mobile payments serving as supplements to the traditional cash and card-based payments tools.
Four out of five global retailers and other merchants failed interim tests to determine whether they are in compliance with payment card data security standards.
Nine of the country’s largest payment card issuers who participate in the Payments Security task force estimate that they will have issued more than 575 million chip-enabled payment cards by the end of 2015.
Following several data breaches at U.S. companies, MasterCard Inc, the second-largest debit and credit card company in the world, is extending its zero-liability policy for cardholders in the United States to include all PIN-based and ATM transactions.
Credit and debit card fraud tops Americans' security concerns in 2014, against a recent backdrop of major retail and banking security breaches, according to the 2014 Unisys Security Index.