Payments News

On The Web

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Security

Amazon One Lets You Pay with Your Palm

“Amazon is unveiling its own palm recognition technology today that will be used initially to turn your hand into a personal credit card inside the company’s physical retail stores. Amazon One uses the palm of your hand to identify you, using a combination of surface-area details like lines and ridges, alongside vein patterns to create […]
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Security

Banks Work with Fintechs to Counter ‘Deepfake’ Fraud

“Banks and fintech groups are setting up partnerships to combat the use of doctored video and audio content by fraudsters, as research shows such ‘deepfake’ crimes are the biggest worry among customers. HSBC this week became the latest bank to sign up to a biometric identification system, developed by technology firm Mitek and offered through […]
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Security

Instagram Faces Lawsuit Over Illegal Harvesting of Biometrics

“Facebook Inc. is facing new allegations that it illegally harvests the biometric data of users, this time in a lawsuit that targets the company’s photo-sharing app Instagram. Last month, the social media company offered to pay $650 million to settle a lawsuit in which it was accused of illegally collecting biometric data through a photo-tagging […]
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Security

Apple Joins the FIDO Alliance to Help Develop and Promote Authentication Standards

“Apple joins existing members Amazon, Facebook, Microsoft, Samsung and others in a common goal to secure online connections and support the adoption of the U2F authentication standard, which the alliance hosts.Universal 2nd Factor (U2F) is an open standard that strengthens and simplifies two-factor authentication (2FA) using specialized USB or near-field communication (NFC) devices based on […]
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Security

Amazon’s Biometric Scanners: the Future of Payments?

“Development of the technology is in its early stages, but it was reported that the company has already began collaborating with Visa and Mastercard on the proposed tech. Alongside this, it has been claimed that Wells Fargo, JPMorgan Chase and Synchrony Financial have also considered their cardholder accounts being linked with the technology.”
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Security

Cash, Plastic or Hand? Amazon Envisions Paying With a Wave

“Amazon.com Inc. AMZN +0.41% wants to make your hand your credit card. The tech giant is creating checkout terminals that could be placed in bricks-and-mortar stores and allow shoppers to link their card information to their hands, according to people familiar with the matter. They could then pay for purchases with their palms, without having to […]

On The Wires

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Security

SmartMetric, Maker of Biometric Secured Credit and Debit Cards, Reports Projected $57.080 Trillion in Card Transactions by 2023 With $35.67 Billion in Card Fraud Losses

“SmartMetric, Inc. (OTCQB: SMME) reports fraud losses worldwide reached $27.85 billion in 2018 and are projected to rise to $35.67 billion in five years and $40.63 billion in 10 years according to The Nilson Report, the leading global card and mobile payments trade publication…SmartMetric has embedded a fully functional fingerprint scanner inside the standard chip-based […]
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Companies

Mastercard, IDEMIA and MatchMove Pilot Fingerprint Biometric Card in Asia to Enhance Security and Safety of Contactless Payments

“Mastercard has teamed up with IDEMIA, the global leader in Augmented Identity, and MatchMove, a Singapore-based fintech, on their first pilot in Asia of a biometric card that uses a fingerprint to authorize transactions at in-store payment terminals. The card, with the product name F.CODE Easy, takes the seamless and intuitive experience of biometric authentication […]
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Security

Peasypay: The European Solution for Biometric Payments by EIT Digital

“PeasyPay, a startup launched by EIT Digital, is letting people pay by just showing their faces and taking a picture of the palm of their hands. The system was first rolled out in Budapest and is currently being piloted in Guadalajara, Spain. Slovenia and the UK will follow. No wallet, smartphone or credit card needed. […]