As we purchase more and more goods and services online, maintaining security online is of critical importance.
Yet millions of us continue to use the same password year after year and often using words and number combinations that can be easily hacked by a determined criminal.
Whilst this initiative from MasterCard will clearly appear to Millennials (and MasterCard have been criticised for this), it has obvious benefits for us all. That said, the article makes a good point about the consequences of our biometric data being hacked.
Nevertheless, fin-tech marches on and we should welcome all initiatives to make our use of payment technology safer.
Financial services giant Mastercard recently announced a new product which enables customers to authenticate purchases by snapping a picture on their smartphone? Is the company’s move towards selfie-security a step in the right direction, or a step too far in the industry’s efforts to make the most of new technology?