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Biometrics And Payments

The endless catalog of alphanumeric passwords, pins numbers, and rising online security breaches and frauds is one of the harsh realities of the digital payment ecosystem. In order to strengthen the security of transaction mechanisms while retaining convenience, the payments industry is fast exploring alternative methods, biometrics being one of them.

Biometrics is a unique way of identifying a person using biological traits such as fingerprints, hand geometry, DNA, IRIS scan, voice waves, and facial recognition.

With its unique ability to reduce rejection rates of authentication, combat cybersecurity threats, overcome user disdain for stronger passwords and provide a smoother user experience, more and more companies are embracing the use of biometrics to add an extra layer of safety to their operations.

 

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