BankBazaar Singapore – January 4, 2018
SINGAPORE: According to the company’s CPO Michael Miebach, the biggest milestones of 2017 was the development of payments security and the increase in the usage of application programme interfaces (APIs). Mastercard aimed at making the entire payment procedure easy, hassle-free, and safe for users.
Biometrics has a major role to play when it comes to enhancing the payment infrastructure. With respect to biometrics, the company has been successful in making remarkable strides with Brighterion’s SmartAgent AI software and NuData’s behavioural biometrics systems. These biometric technologies will verify a user’s identity in innovative ways that will not inconvenience the cardholder.
Mastercard also focused on installing innovative technologies to make sure their network is safe and secure. Also, the company is installing machine learning, artificial intelligence (AI), and behavioural analytics for its entire network in order to detect their screens for any kind of risk and prevent the occurrences of catastrophic scams in their tracks.
In 2017, mobile payments were redefined with advanced technologies like AI and biometrics. Mastercard’s technological advances of 2017 are just the start. 2018 will surely have a lot more technological innovations