Morpho (Safran), a provider of identity and security solutions, has collaborated with Visa to explore new payment concepts using security technologies including biometric recognition.
The technologies being studied will be applied to existing payment methods such as credit or debit cards, mobile, ATMs and Points of Sale (POS) terminals to boost transaction security for financial institutions and customer convenience.
Morpho said that its collaboration with Visa intends to explore innovative security solutions in response to the strong growth in this market.
Morpho and Visa are co-demonstrating these payment concepts at the Mobile World Congress in Barcelona, Spain, as well as at Visa’s innovation center at its San Francisco headquarters.
Few of the key payment concepts being demonstrated include the use of MorphoWav technology for proximity payments. This technology captures and matches four fingerprints with a single hand movement in less than a second.
Visa senior vice president of innovation and strategic partnerships Bill Gajda said: "Visa is always exploring new technologies which enhance payment security and convenience for financial institutions and their customers. We are excited to demonstrate and explore the power of these new authentication capabilities with Morpho at Mobile World Congress."
Morpho CEO Anne Bouverot said: "In addition to touchless fingerprint recognition for proximity payments, we are incorporating facial recognition capability into smartphones and tablets, enabling users to validate payments through a simple selfie."