Tech

Mastercard launches technology that allows you to pay with face or fingerprints in stores

Mastercard launches technology that allows you to pay with face or fingerprints
Mastercard is piloting a new technology that allows buyers to make payments only with their face or hand at the checkout point.

The company on Tuesday launched a program for retailers to offer biometric payment methods, such as face recognition and fingerprint scanning. At checkout, users will be able to verify their payment by showing their face or palm instead of sliding their card.

The program has already hit live at five grocery stores in Sao Paulo, Brazil. Mastercard says it plans to distribute it globally later this year.

"All the research we've done has shown us that consumers love biometrics," Ajay Bhalla, president of Mastercard for Cybernetics and Intelligence, told CNBC.

"They want the payment in a store to be as convenient as opening their phone."

An estimated 1.4 billion people are expected to use facial recognition technology to validate a payment by 2025, according to a forecast by Juniper Research.