It also notes the importance of display cards with dCVV and/or one-time password (OTP) functionalities will replace the static three-digit card verification code currently located on the rear of debit and credit cards with a small display screen that changes the card holder’s unique card verification code every few minutes.
Mercator Advisory Group recognizes in addition to innovations in payment card technology mentioned above evidenced in in products such as PLASTC, will also incorporate contextual data authentication (location, buying patterns) and variable biometric data gleaned from wearables (cadence, heart-rate) in addition to traditional biometric marker (fingerprint, voice). Authentication of identity and verification against risk assessments will receive increased attention as imperatives for conducting business the next several years.
Overview by Joseph Walent, Senior Analyst, Emerging Technologies Advisory Service at Mercator Advisory Group
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