Payments News

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Reports

Study: Consumers Unsure About Biometric Payments

“Vital Insights into Biometric Payments Adoption, an independent report commissioned by TNS Inc., reveals that 15 percent of adults have made a biometric payment in the last year, including one-fourth of adults age18–24. “We are delighted to see that biometric payments are being tested by consumers, however, a staggering 61 percent felt that providing companies with […]
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Companies

Mastercard Is In Talks With UK Banks About Launching Cards With Fingerprint Scanners

“Mastercard is holding talks with banks in the U.K. about bringing biometric payment cards to market. The credit card firm has been testing cards with in-built fingerprint scanners, which are used to verify customers’ identities. This is intended to replace the use of passwords and speed-up the process of making payments online and contactless transactions in-store.”
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Security

Nok Nok. Who’s There? OneSpan

“Security and esignature company OneSpan (formerly known as Vasco) has teamed with authentication firm Nok Nok Labs, one of the founding organisations of the FIDO Alliance, reports Julie Muhn at Finovate. Under the deal, OneSpan and Nok Nok will launch a joint solution that combines OneSpan’s Mobile Security Suite with Nok Nok’s S3 Authentication Suite, a set of tools that help companies comply with FIDO standards by […]
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Reports

Passwords Are Dying Faster at Home Than at Work: Study

“The survey found a significant difference in authentication preferences between workplace and personal settings: At work, 56 percent of respondents expressed a preference for password-based authentication, whereas that number dropped to 45 percent in personal settings. Biometric authentication, meanwhile, was preferred by 30 percent of respondents when it comes to access online accounts or making […]
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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

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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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 […]