Biometrics to impact future of mobile payment authentication

RALF GLADIS | December 6, 2018

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No longer the stuff of science fiction, biometrics technology is fast becoming a reality for today’s businesses and consumers.  And it is poised to have a significant impact not only on mobile payments but on the world of consumer payments in general. The technology is continually evolving and becoming faster and more reliable when it comes to payment transactions.  For example, the accuracy of fingerprint scanning technology has vastly improved in recent years – today, modern sensors are able to analyze blood vessel structures and whether blood is actually pumping through our fingers.  And from a mobile payments perspective, it is a lot easier for consumers to pay with a touch of their fingerprint or scan of their face than to type out complex passwords on small screens.  Consumers welcome convenience and speed – and retailers want to meet consumers’ desires – so it makes complete sense that biometrics would become a key component in mobile payments. And card issuers are recognizing the importance and value of biometric authentication as well, with Mastercard announcing at the start of 2018 that all consumers will be able to identify themselves with biometrics like fingerprints or facial recognition when they shop and pay with Mastercard by April 2019.

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