Payments News » Biometrics

Aadhaar verdict brings India’s banks back to square one

October 1 2018

“Then, on Sept. 26, a five-judge bench struck down section 57 of the Aadhaar Act, which allowed corporate entities or even individuals to demand the unique Aadhaar number in exchange for goods or services. While customers are rejoicing, banks are reeling under the blow, having already spent a fortune and considerable time and effort in collecting customers’ data. […]

Security

In Boarding New Accounts And Reducing Abandonment, Biometrics May Be Nearing the Mainstream

September 28 2018

“On biometric authentication, “The biggest comment we learned from payments customers is it has helped with abandonment,” says Daon’s Bourke. Prospects for the increased use of biometric authentication are positive. Over the next five years, Juniper Research predicts the estimated number of users of the technology will increase from 429 million today to more than 1.5 […]

Global

Companies can’t ask for Aadhaar anymore—or can they?

September 27 2018

““We’re still not sure what is permissible and what is not,” Srikanth Lakshmanan, a software engineer behind Cashless Consumer, a consumer awareness initiative about digital payments, told Quartz.”

Security

Finnish firm trials face payments

September 20 2018

“The users participating in the pilot can currently use facial recognition when paying for lunch. “The initial feedback has been very encouraging. The employees have been surprised how convenient the method is and how smoothly the new checkout works. Unlike with, say, mobile payments, customers don’t have to get their wallet or smartphone out to complete […]

Global

UIDAI asks telecom firms to submit plan to discontinue Aadhaar-based e-KYC

October 2 2018

“The Unique Identification Authority of India (UIDAI) has asked telecom companies to submit a detailed plan within the next 15 days on discontinuation of Aadhaar-based authentication service used by them to verify their customer. A circular to this effect has already been issued to the telecom service providers (TSPs) including Bharti Airtel Ltd, Reliance Jio Infocomm […]

Security

Pointing the Finger at Biometric Card Misconceptions

October 9 2018

“Now biometric cards are being added to the payment mix. With these cards, you can use your thumbprint as an alternative to a PIN or signature at the same in-store chip or contactless terminals you use every day. Mastercard developed the biometric card, combining chip technology with fingerprints to conveniently and safely verify cardholder identity […]

Market Reports

Biometric payment card forecast predicts 579m cards in circulation by 2023

October 30 2018

in
Biometrics

“Biometric cards’ ability to enable frictionless customer authentication for higher value contactless transactions will lead to the technology gaining widespread adoption by 2023, Goode Intelligence predicts, with a total of almost 579m biometric payment cards in use around the world in five years’ time.”

Global

Banks may use Aadhaar QR code for paperless KYC

October 26 2018

“Based on legal advice from the attorney general (AG), the Unique Identification Authority of India (UIDAI) has said the law will not be violates as banks will not be accessing the Aadhaar database.”

Security

Bank of Montreal Brings Biometric Mobile Authentication to Commercial and Corporate Clients

October 23 2018

in
Biometrics

“Bank of Montreal (or “BMO”) has delivered the new authentication system to its BMO Online Banking for Business platform, and on its newly launched BMO Banking for Business Mobile App. Implemented in collaboration with IBM Canada, the security system is designed to leverage multiple biometric factors, including face, fingerprint, eye, and voice, for end user […]

Security

11/11 shows biometrics are the norm for payments in China

November 13 2018

in
Biometrics

“Instead of frantically inputting payment passwords to grab deals, Chinese users jumped on new technologies to shop in the blink of an eye. This year, 60.3 percent of Singles’ Day customers paid either by scanning their fingerprint or taking a selfie.”