Technically, “they’re storing an algorithm, not a picture of you,” Phillip Dunkelberger, who runs Nok Nok Labs, explained. The pilot program will be limited to 500 person worldwide next year. The initial test period was not specified but it’s supposed the project is very advanced now. The company said Thursday that it is close to inking deals with two major still-unidentified banks. By rigorously quantifying the elements that determine mobile payments readiness, considering global markets are currently most prepared to adopt mobile payments and demographic data, Mastercard established that the global mobile payments landscape is now 85 percent of the world’s household consumption expenditure.
