Mastercard Selects Brazil’s Payface for Next Start Path Accelerator

A Brazilian naked payments start-up is entering Mastercard’s Start Path accelerator. Payface was founded in Santa Catarina, and is the developer of a face-based payment application that has already been deployed in six Brazilian states.

The company is hoping that its participation in the next Start Path cohort will open up more development and marketing opportunities internationally. The Payface system relies on facial recognition, and functions much like other naked payments systems. Users are asked to register their biometrics and their payment information through the Payface application. They can then submit to a facial recognition scan to complete a transaction at the point of sale. In doing so, Payface negates the need for a physical card or a cellphone during in-person payments.

Start Path, meanwhile, is essentially a six-month mentorship program that provides tech start-ups with the resources and expertise they need to take their businesses to the next level. Payface is the only Latin American company in its cohort of nine, and believes that its selection attests to the strength of its business and its payment platform.

“We have partnered with fintech companies from the start and evolved the Mastercard Developers portfolio with programs like Start Path to support companies like Payface on their journey to grow and scale,” said Mastercard Fintech and Enablers SVP Amy Neale.

“We want to leverage Mastercard’s global network to directly engage with consumers, gather feedback on geographic expansion and relevant market dynamics, and receive guidance on product viability,” added Payface Co-founder and CEO Eládio Isoppo.

HYPR, Viridium, and Trust Stamp are some of the more high-profile alums of the Start Path program. Facial recognition has previously been used to facilitate payments at KFC stores in China, while PopID has brought similar technology to a network of restaurants and retail outlets in the United States.

Sources: exame, Then24

–

January 19, 2022 – by Eric Weiss

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

Related News

Footer

Follow Us