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Global

Aadhaar verdict brings India’s banks back to square one

“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. […]
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Security

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

“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 […]
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Security

Finnish firm trials face payments

“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 […]
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Global

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

“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 […]
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Security

Pointing the Finger at Biometric Card Misconceptions

“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 […]
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Security

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

“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 […]
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