Mastercard, NEC to offer in-store biometric payments in APAC
This follows Mastercard’s Biometric Checkout Program, launched in Brazil in 2022.
Mastercard has inked a memorandum of understanding with the NEC Corporation to enable in-store biometric payments in stores across APAC.
The partnership will implement NEC’s face recognition and liveness verification technology, and Mastercard’s payment enablement and optimized user experience.
Mastercard Cyber and Intelligence Solutions president Ajay Bhalla said that the partnership will enable Mastercard to bring biometric payments to customers in countries across Asia Pacific.
“As retailing environments continue to evolve and choices in ways to pay rapidly expand, biometric solutions offer a seamless, quick and secure checkout, without needing to unlock a phone or insert a PIN,” Bhalla said.
NEC Corporation corporate senior vice president Takao Iwa said that the face recognition-enabled payments system provides security and convenience.
“By collaborating with Mastercard, which has payment assets used around the world, NEC will provide a new payment experience, aiming to create a world where everyone can use digital technology with safety,” Iwa added.
This is not Mastercard’s first foray into biometric payments. In 2022, Mastercard launched its Biometric Checkout Program in Brazil. The program provides participants with a framework that addresses security, biometric performance, data protection and privacy requirements, for financial institutions, merchants, and technology providers within the ecosystem.
NEC is an early enrollee of the program.
Merchants are expected to benefit from shorter lines, increased security and more hygienic conditions with the face recognition-enabled check-out.
Additionally, loyalty programs can be integrated in the checkout system, for faster, more tailored offers at purchase as part of any successful business strategy, Mastercard said,
Mastercard and NEC showcased their latest payment experience at Singapore Fintech Festival, which took place from 15 to 17 November 2023.