Using biometric payment authentication solutions can benefit you a great deal if youare in the ecommerce business. The use of biometrics in ecommerce and bankinghas grown dramatically in the recent years, and a new generation of biometricpayment systems is set to accelerate the change.
Biometric banking systems check the ‘what I am’ characteristics about a person to verifytheir identity, whether they are about to make a purchase, lo onto their onlineaccount, or apply for a loan. These systems use factors like fingerprint,facial and vocal recognition and iris scanners to identify the individual. Theycan replace or even enhance the traditional identification methods like PINnumbers, paper ID and passwords. The following are some of the benefits of biometric payment solutions.
One of the things that you will love about this technology is the convenience that it provides. Biometric payment technology makes it easy, fast, and effortlessfor consumers to identify themselves. Using biometric cards with fingerprintscanners means that the individual is only supposed to be physically present tomake a purchase - no other information is needed.
Another benefit of biometric payment authentication solutions is that no PIN number isrequired. Remembering PIN numbers can be difficult, especially for credit ordebit cards that we use less frequently. Biometric payment solutions do awaywith the need to remember these numbers altogether and save you the stress ofremembering multiple PINs for different accounts.
Last but not least, biometric payment authentication solutions as have no limit on contactless spend. Contactless card payments are normally set at a relativelylow limit so as to minimize the risk of fraudulent purchases if a physical cardis lost or stolen. But with biometric card payment technology, only the ownerof the card can actually use it, meaning that there would no longer need to bea limit on contactless payments.
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