A Mastercard pilot of biometric technologies for payments achieved a 98% success rate in voice and facial recognition.
The payment card company created a mobile app to test voice and facial recognition technologies on more than 14,000 transactions.
Mastercard employees around the world carried out the tests on Android and iOS operating systems. The process took less than 10 seconds for most transactions.
“The results were very exciting, yielding a successful verification rate of 98%, mixing a combination of voice and facial recognition,” said Mastercard.
“It is crucial for us to constantly innovate to stay ahead of fraudsters – this has been true since we were established nearly 50 years ago. Safety and security is at the heart of our business, and that also means providing a seamless experience that delights the consumer in its simplicity.”
Read more about biometrics
Barclays recently announced plans to use Hitachi's Finger Vein Authentication Technology, also known as VeinID.
The bank claims the technology will prevent fraud as it recognises vein patterns in users' fingers which are unique to each individual.
Research carried out by software company Intelligent Environments found that fingerprint scanning technology is the most favoured biometric security alternative to passwords for UK bank customers.
It revealed that 79% of 2,000 consumers questioned were prepared to replace passwords with biometric security.
The survey also found that 52% of consumers would like banks to integrate fingerprint scanners into digital banking apps. This was the most popular, followed by iris scanners (33%), facial recognition (30%), electrocardiogram heartbeat monitors (29%) and voice verification (27%).