• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
TechMastercard

Mastercard’s latest test would make credit cards obsolete by letting customers use their faces and finger prints to pay in stores

By
Tristan Bove
Tristan Bove
Contributing Reporter
Down Arrow Button Icon
By
Tristan Bove
Tristan Bove
Contributing Reporter
Down Arrow Button Icon
May 17, 2022, 4:09 PM ET
Add Fortune on Google for similar content.

Mastercard wants to do away with the actual credit cards by letting customers pay using their faces or hands.

The company is testing new biometric verification methods as part of a push towards doing business in the metaverse, Ajay Bhalla, Mastercard’s president of cyber and intelligence, told CNBC on Tuesday, referring to an as-of-yet unrealized assembly of virtual worlds where users will be able to work, play, and shop online.

Trials for the new payment options kicked off in Brazil today, with Mastercard collaborating with a Brazilian supermarket chain and Payface, a company that specializes in facial recognition software to enable digital payments. Additional tests are planned in the Middle East and Asia later this year.

“The way we pay needs to keep pace with the way we live, work and do business, offering choice to consumers with the highest levels of security,” Bhalla said in a statement.

Mastercard’s new technology will let customers complete transactions by either waving their hand over a scanner or smiling at a camera in stores where the service is enabled. The technology will ensure shorter waiting times at checkout, faster transactions, improved hygiene, and enhanced security, according to the company’s statement.

Mastercard ultimately envisions its system becoming “globally interoperable,” according to Bhalla, with customers able to access their profiles and payment details seamlessly anywhere in the world.

In 2014, Mastercard became one of the first credit card companies to experiment with replacing PIN codes with biometric identification markers and contactless technology. The company is now going a step further with the technology currently being tested. The company intends to store customers’ payment information in a secure database that can be easily retrieved and accessed by retailers through biometric markers, such as someone’s face or fingerprints, without having to use a credit card at all. 

Mastercard hopes that the tech will eventually form an important building block of the metaverse. More advanced biometrics technology will be essential to verifying transactions in this digital future world, and Mastercard is laying claim to what might become an essential piece of this infrastructure. Bhalla said that the company even intends to link stored payment profiles with users’ individual non-fungible tokens (NFTS)—digital assets that act as a record of ownership online.

The new biometric technology is just the latest example of Mastercard establishing itself in the burgeoning metaverse world. 

In April, the company filed 15 non fungible token (NFT) and metaverse trademark applications with the U.S. Patent and Trademark Office. The filings revealed potential plans for processing payments in the metaverse, adding Mastercard’s name to events being hosted in the virtual world, and building new e-commerce software that would allow Mastercard users to perform transactions in the metaverse.

In February, Mastercard announced 500 new hires that would consult with the company on cryptocurrency transactions, NFTs, and financial activities related to the metaverse.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.
About the Author
By Tristan BoveContributing Reporter
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Anthropic’s Alibaba fight raises a trillion-dollar question for IPO: How defensible is a frontier AI moat against China with Washington’s toolbox?
AIAnthropic
Anthropic’s Alibaba fight raises a trillion-dollar question for IPO: How defensible is a frontier AI moat against China with Washington’s toolbox?
By Mia OsmonbekovJune 28, 2026
12 minutes ago
psg
RetailSports
More than a club: how Paris Saint-Germain took inspiration from the Barcelona slogan and the New York Yankees cap to create a global business brand
By Nick LichtenbergJune 28, 2026
42 minutes ago
Even Apple supply chain maestro Tim Cook couldn’t dodge the memory chip ‘RAM-ageddon’ crisis. Here’s why PC prices are soaring this summer
Big TechChips
Even Apple supply chain maestro Tim Cook couldn’t dodge the memory chip ‘RAM-ageddon’ crisis. Here’s why PC prices are soaring this summer
By Alexei OreskovicJune 28, 2026
1 hour ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he’s part of a national struggle
EnvironmentSpaceX
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he’s part of a national struggle
By Catherina GioinoJune 28, 2026
3 hours ago
Amazon Prime Day total online spending surpasses Adobe estimate
Retailecommerce
Amazon Prime Day total online spending surpasses Adobe estimate
By Spencer Soper and BloombergJune 27, 2026
15 hours ago
Australia to strengthen enforcement of under-16 social media ban
PoliticsSocial Media
Australia to strengthen enforcement of under-16 social media ban
By Ainslie Chandler and BloombergJune 27, 2026
19 hours ago

Most Popular

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
24 hours ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
3 days ago
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
AI
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
By Sebastian HerreraJune 27, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
4 days ago
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
Europe
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
By Jason MaJune 27, 2026
15 hours ago
Forget the ceasefire — The U.S. and Iran are still locked in combat over the Strait of Hormuz as Tehran tries to shut down a competing route
Middle East
Forget the ceasefire — The U.S. and Iran are still locked in combat over the Strait of Hormuz as Tehran tries to shut down a competing route
By Jason MaJune 27, 2026
11 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.