TORONTO – Bank of Montreal, Canada’s fourth largest lender, said on Wednesday that it had launched the first biometric corporate card enter in Canada and also the Usa together with Mastercard.
BMO and Mastercard said the technology will enable cardholders to verify transactions using facial recognition and fingerprint biometrics when creating online purchases.
In an argument, i was told that the development of the technology will increase security when creating payments that do not include a face-to-face interaction. The program will start using the issue of corporate cards incorporating the technology to BMO employees in Canada and the United States.
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Banks’ security procedures are coming under scrutiny amid evidence of increased attacks from sophisticated hackers.
“Mitigating the risk of fraud is definitely our main concern, and also the inclusion of this technology is will make payment authentication easier and strengthen the security of the entire payments ecosystem,” said Steve Pedersen, v . p . of North American corporate card products at BMO.
British bank Barclays launched a finger scanner for corporate clients in 2014 and said it would role out voice recognition for retail clients.
? Thomson Reuters 2016
