PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Customers Want Biometric Security

By Tim Sloane
August 22, 2016
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
global innovation network

golden bitcoin - cryptocurrency

This article in Finextra identifies consumer research from MasterCard and Goode Intelligence that suggests biometric adoption is well underway:

“For example, research from the fourth annual MasterCard Mobile Payments Study finds cardholders are increasingly asking for mobile payment options. Meanwhile, MasterCard and PRIME Research compiled 2 million global social media comments about mobile payments in 2015 – compared to about 85,000 similar posts they found in their 2012 study. Biometrics and the prospect of no more passwords were among the most engaging topics based on social conversations in 163 countries. The most talked about biometric payment options were fingerprint, electrocardiogram (ECG) technology and facial recognition

Biometrics are an ideal enabler for validating online transactions when compared to more traditional options such as passwords and knowledge based authentication. But an often overlooked key to facilitating secure biometric authentication starts with a strong identity verification process. It’s critical to offer a simple and effective user experience when it comes to associating the face or other biometric traits used for biometric authentication with the authorized individual.

A forecast from Goode Intelligence predicts one billion customers will use biometrics to access banking services by 2017. Taking into account that the number of mobile banking users globally is forecast to double to 1.8 billion over the next four years, representing over 25% of the world’s population according to KPMG, biometric authentication could be especially beneficial and attractive to different demographics ranging from millennials to older individuals, from mature entrepreneurs to military services members.”

Mercator agrees that consumers are ready for biometrics however we also recognize that issues remain, from what may describe as a patent minefield to an increasing number of different biometric solutions that risk confusing the consumer. Still, if the consumer perceives biometrics as simple and secure, then adoption will surely follow.

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

Read the full story here

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Biometrics

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    digital cards

    Beyond Plastic: Why Digital Cards Are the Future of Credit

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025
    Rewire Acquires Imagen, Looking at Prepaid Cards for Migrant Workers

    Smells Like Team Spirit: What Makes Cobranded Credit Cards Work

    July 3, 2025
    uk banking outages

    New Continuous Strategies for Battling Account Takeovers

    July 2, 2025
    Fraud Monitoring

    What to Expect When Nacha’s Fraud Monitoring Rules Take Effect

    July 1, 2025
    payments

    Don’t Just React to What’s Next in Payments—Anticipate It

    June 30, 2025
    consumer debit

    As Payment Types Proliferate, Debit Cards Still Go Strong

    June 26, 2025
    Embedded Payments

    How Embedded Payments Is Optimizing the Expense Management Process

    June 25, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result