MasterCard has introduced MasterCard Identity Check, a suite of technology solutions that leverage advanced technologies to prove a consumer’s identity and further simplify the online shopping experience. 

 Existing methods to prove an identity online can take shoppers away from a retailer’s website. This final step can be time consuming and potentially result in the purchase being declined or abandoned. MasterCard Identity Check will put identity verification at the cardholder’s fingertips using technologies such as biometrics and SMS-delivered one-time passwords. 

 “MasterCard is always looking for innovative ways to make everyday transactions faster, easier and more secure for customers,” said Garry Duursma, Head of Market Development & Innovation for MasterCard Australasia. 

 Australians are technologically savvy and fast to adopt innovative payment options; with ATM cash withdrawals continuing to decline* and online shopping on the rise, MasterCard’s Identity Check will be a welcomed development for shoppers concerned about security online.”

 MasterCard Identity Check extends the company’s commitment to upgrade to online payment security. The use of technology and data will move from a reliance on what the consumer knows (passwords), to what they have (mobile phone or other smart device) and who they are (biometrics). 

 “Today, people shop on all sorts of devices, and they expect technology to simplify and secure the transaction,” said Ajay Bhalla, president of Enterprise Security Solutions, MasterCard. “This is exactly what Identity Check delivers.” 

 Hundreds of cardholders in the Netherlands began using biometric-enabled payments last month, while a similar trial is also underway in the U.S.  U.S. financial institutions can choose to participate in MasterCard Identity Check beginning in the middle of 2016, with a global expansion in 2017. 

 Australians Support Next Generation Checkout 

This next generation of consumer authentication is verified by recent research. According to a Global MasterCard survey, more than half (52%) of Australian shoppers believe there has to be a better way to keep personal information, as 57 percent admit to forgetting crucial passwords more than once a week. 

More than half of Australians have been locked out of a website after failed attempts to remember a password, and one in three have abandoned a purchase as a result of forgetting it. 

The majority (69%) of Australians have to enter passwords for more than six accounts, devices or applications every week. One in five shoppers use the same password for everything, while a further 56 percent rely on only a few different variations – despite warnings it puts them at greater risk from fraud. 

When it comes to the biggest password pain points, the majority (57%) of Australians find stipulations around strength, numbers, symbols and cases annoying, along with getting locked out after multiple attempts (48%), and having to change passwords so often (38%).

About the Survey 

The poll of about 10,000 general population consumers was conducted between Aug. 13 to 21, 2015 by Norstat. Consumers in 17 markets across North America, South America, Europe, Africa, Australia and Asia Pacific were surveyed on their perceptions related to online shopping. The total sample has a margin of error of +/-0.80% at the 95 percent confidence level.  The total sample for Australia was 500 aged 18-64. 

Key statistics for markets surveyed:

People in Mexico (17 minutes), Colombia (16.9 minutes) and Singapore (15.1 minutes) lose more than a quarter of an hour each time they have to reset a forgotten password.

Globally, nearly one in three people have abandoned a purchase because they couldn’t remember their password, with around half of consumers in Brazil (52%), Colombia (48%), Germany (47%) and Peru (47%) having done so.

40% of people tend to use the same one or two passwords for almost every website that requires a password. 

People in the United Kingdom, Canada, the United States and India use passwords for more than 11 different online accounts or applications regularly every week, the highest in the world.

The Japanese enter passwords most frequently – 11 times per day compared to the global average of eight times per day.