New Delhi, Aug 7 : Mastercard announced the launch of Identity Check Express, a next-generation, mobile-first authentication solution that aims to redefine the e-commerce journey for millions of Indian consumers.
The solution will help eliminate unnecessary friction and enhance the security of online transactions. Identity Check Express was showcased at the Global Mastercard Cybersecurity Summit, held for the first time in India.
Mastercard Identity Check Express combines the latest technology, including device intelligence and behavioural biometrics, with the latest EMV 3-D Secure and FIDO authentication standards, to deliver an uninterrupted mobile payment experience.
''With the growing spending power and aspirations of Indian consumers fueling the growth of e-commerce in the country, Mastercard's digital by default DNA drives us to constantly innovate to enhance the convenience and security of digital payments.
''The launch of Identity Check Express does just that for consumers and merchants,'' said Ajay Bhalla, President, Cyber and Intelligence Solutions, Mastercard, in a statement here.
"With Identity Check Express, Mastercard will offer a friction-less payment experience to Mastercard cardholders at leading merchants for an amount less than Rs 2,000 on their trusted mobile devices, by sharing a one-time merchant specific consent.
''For transactions greater than Rs 2,000, cardholders will be able to authenticate themselves with a transaction PIN of their choice," the statement added.