Once again, Eagle Eye Technology have teamed up with Mastercard on an exciting new project, this time to incorporate Mastercard Identity Check Mobile (IDCM) into an off the shelf solution, designed to allow financial institutions to quickly, easily and securely incorporate IDCM into their existing transaction flow, to increase completion rate and reduce costs.
Using Mastercard Identity Check Mobile integrated with the new Eagle Eye Technology system, a financial institution can offer its customers an app that provides them the ability to utilise their own mobile phone to verify transactions, utilising the security of biometric identification.
Similar to 3D Secure (which requests a password when providing payment details to verify an online transaction) the IDCM solution allows the customer to use either facial or fingerprint recognition to verify their online transaction, utilising an iOS or Android app designed by Eagle Eye Technology, integrated into Mastercard IDCM and branded as the Financial Institution.
Completely removing the need for static passwords, the whole process is extremely easy to use for both financial institution and their customers. Mastercard liaises with the financial institution to understand who will be enrolled in the service whilst Eagle Eye Technology tailor an iOS and Android app to the financial institution’s brand. Mastercard provides banks with a fully hosted and managed secure solution along with a completely tailor-made iOS or Android application. Because of this, the banks customer is easily able to sign-up to the service through their bank and then download the relevant bank branded iOS or Android app from the Apple App Store or Google Play Store.
As Mastercard says “for merchants and issuers, Mastercard Identity Check Mobile reduces costs and drives higher completion rates while offering customers a sense of security. “
Ed Pippin (CEO of Eagle Eye Technology) says “with PSD2 being enforced all over the EU, strong customer authentication and two factor authentication is no longer just nice to have, it is a must. Mastercard IDCM provides financial institutions with a way to increase security for their customers’ transactions, and now that Eagle Eye Technology has created this out of the box service in conjunction with Mastercard, it will be easier than ever for financial institutions to take advantage of IDCM.”
Ed continues “launching this service with Mastercard truly shows Mastercard’s commitment to security in transactions and believe that Eagle Eye Technology is the right company to help move this solution forward in the market.”