Biometrics

The e-commerce giant's Amazon One palm-scanning can enroll consumers for building access and other use cases that require an ID.

With mobile payments and banking apps on the rise, biometric authentication is now increasingly common in consumer finance, says Fingerprints' Michel Roig.

With the ongoing coronavirus pandemic prompting more consumers to use contactless payments, the U.K.’s banks have lobbied for higher contactless payments limits, a move which could benefit the biometrics payments industry.

Biometric authentication has always been a challenging subject with consumers, who are accustomed to using the technology to unlock their phones but are still wary about how much personal information they share with retailers and card issuers.

U.S. financial institutions should prepare for potential new regulations around data privacy and protection, digital identity verification and the use of biometrics, says OneSpan's Michael Magrath.

The widespread shift to e-commerce and touchless payments during the pandemic has escalated fraud risk in those channels, including the possibility of fraudsters combining altered photos with synthetic ID, Experian warns.

With the advances in technology and digitization, and evolving security threats, it’s time for smarter, more robust authentication methods, says Entersekt's Dewald Nolte.

A pleasing look, or even allowing consumers to design their own cards, can help build brand and uptake, says Fingerprints' Lina Andolf-Orup.

Finland’s OP Financial has announced that it will be launching a biometric payment card pilot in the Nordic countries in the second half of 2021.

Before bringing biometrics to any new payment form factor, careful consideration is needed to ensure the technology can be seamlessly integrated into the existing infrastructure, while maintaining the highest levels of security, says Fingerprints' Henrick Nilsson.