What are the benefits for merchants?
While stakeholders, economics and opportunities may differ, when it comes to preserving revenue, lowering decline rates of good cardholders and ensuring efficient operations are top priorities for merchants - with the majority indicating that innovative technology is crucial to enhancing security.
Merchants should be aware that with the Mastercard Biometric Card:
- No changes are needed to the software or hardware of a merchant’s POS terminal in order to process Mastercard Biometric Card transactions.
- biometric authentication process is as fast as PIN but saves the cardholder the effort of entering the PIN digits into the terminal’s key pad.
- Accepting the Mastercard Biometric Card enables merchants to know with greater certainty that the person using the card is the genuine cardholder.
- Merchants should experience fewer declines due to forgotten PINs, incorrect PINs, and PIN bypass, as well as reduced checkout delays caused when a cardholder must switch to another form of payment.
- Merchants may see a positive impact to transaction approval rates due to greater issuer confidence in the transaction.
- As affluent customers are most interested in biometric cards, providing the best possible cardholder experience can lead to increased transaction volume.