Forget fingerprints; Iris scans could validate mobile payments
While mobile payment systems like Apple Pay and Samsung Pay are growing, they haven’t lived up to the hype that surrounded their arrival in 2014.
But newer biometrics security technologies beyond the use of fingerprint scans could boost adoption rates when purchases are made in-store with smartphones. Those technologies include palm vein sensors or even sensors that assess a person’s typing patterns or movements.
For online purchases, iris scans could help authenticate buyers. And while SMS (Short Messaging Service) is an option, banks want greater security when using SMS payments. That’s where a multimodal approach — integrating facial, voice and behavorial scans into what’s required for a purchase — might help.
Smartphone vendors and developers of payment software need to consider the multimodal approach and a variety of new biometric techniques to be successful in coming years, according to Tiffany Huang, an analyst at…
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