Biometrics

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.

Four global banks have joined American Express Ventures in contributing to BioCatch’s Series C fundraising round and earning themselves seats on its newly formed Client Innovation Board.

Amazon's palm-reading payment system is the sort of product that could probably succeed only at this point in time.

Biometric cards have garnered more attention in recent times through various trials, but the coronavirus pandemic looks set to accelerate their adoption with a series of major card issuers beginning to roll out the technology.

Trust in biometrics solves the major obstacle to even wider contactless adoption: contactless spending limits, says Fingerprints' Christian Frederickson.

The technology addresses both security and hygiene concerns, says Fingerprints' Lina Andolf-Orup.

Identity fraud holds no prisoners when it comes to payments. If a fraudster gets hold of a consumer's credentials, everything from mobile wallets, to a checking account, savings account or P2P account is in jeopardy of takeover.

Avivah Litan, vice president and distinguished analyst at Gartner, explains the evolving role blockchain has taken during the coronavirus pandemic. Blockchain, originally developed for use with bitcoin, provides a way to bring trust and order to the chaos of the current crisis, but it's no silver bullet.

The coronavirus pandemic was an unexpected catalyst for contactless cards, and another no-contact payment method is poised for growth as well: voice payments.

New authentication methods make it harder to fake biometrics, Eric Setterberg of Fingerprints argues.

New authentication methods make it harder to fake biometrics, argues Fingerprints' Eric Setterberg.

PSD2 and FIDO are among the efforts that could ease adoption for consumer use, says Fingerprints' Jonas Andersson.

The best solutions consider both the user and the device, says says Fingerprints' Jonas Andersson.

PINs and passwords are increasingly viewed as insufficient to tackle this new standard, says Fingerprints' Jonas Andersson.

The processes and standards in place to ensure our payment cards are robust, secure and work in harmony with the rest of the ecosystem are given little spotlight, but they’re invaluable to the payments world’s smooth operation, says Fingerprints' Lina Andolf-Orup.