back Back

NEC and Mastercard partner to enhance in-store biometric payments

By Gloria Mathias

November 14, 2023

  • Advanced Payments
  • APAC Fintech
  • Biometric Payments
Share

NEC Corporation, Thailand, Tokyo, Fintech, APAC Fintech, NEC APAC, TASConnect, Working Capital Management,Mastercard, Biometric Payments, Instore Payments, Contactless Payments, Fintech Japan, Tokyo, NEC and Mastercard have partnered to bring the Biometric Checkout Program to the Asia-Pacific region, expanding its reach across the globe.

The technology that uses your face to unlock your phone or tablet can soon be used to help consumers speed through in-store checkout, owing to a strategic partnership between Mastercard and NEC Corporation.

Through a signed Memorandum of Understanding, the partnership will implement NEC’s face recognition and verification technology and Mastercard’s payment enablement and optimised user experience to drive global scale.

“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,” said Ajay Bhalla, President, Cyber and Intelligence Solutions, Mastercard. “This partnership with NEC will enable us to bring exciting new biometric payments to customers in countries across Asia Pacific and lead the world in safe and convenient checkout experiences.”

“By utilizing NEC’s world-class face recognition technology, the new payment system will provide both security and convenience,” said Takao Iwai, Corporate Senior Vice President and Managing Director, Financial Solutions Division, NEC Corporation. “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.”

Mastercard’s Biometric Checkout Program, which launched with a pilot in Brazil last year, is set to transform in-store payments, with consumers smiling or waving to pay. 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 in the Program.

Merchants can benefit from shorter lines, increased security, and more hygienic conditions. Additionally, loyalty programs can be integrated into the checkout system, for faster more tailored offers at purchase as part of any successful business strategy.

Biometrics can play a key role in helping merchants build a more engaging relationship with their customers while driving sales. Mastercard and NEC will showcase this latest payment experience at the Singapore Fintech Festival.

Previous Article

November 14, 2023

Nigeria enters patnership with eGate and Visa International

Read More
Next Article

November 14, 2023

Fundiin & Pharmacity bring BNPL services for pharmacies in Vietnam

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Advanced Payments

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

Ecommpay & Mastercard partner to deliver Click to Pay in Europe

Read More

July 19, 2024

Sopra Banking Software partners with Finom

Read More

July 19, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024