Payment industry has evolved rapidly and the latest technology is biometric payments and biometric authentication. For secure payment gateways, biometric authentication is something they need to consider and incorporate. By having biometric authentication in place, customers will benefit greatly.
How do biometric authentications take place?
Customers will have to identify themselves based on any physical aspect, such as fingerprint, retina scan or selfies, so that the payment is authorized. There might be new options available in the future but as of now, fingerprint security is the most proven method. Although it can be forged and is not absolutely fool-proof, it does eliminate the need to use passwords or any other sources for authentication.
Will Biometrics be adapted by the payment industry?
While biometrics will be embraced by the payment industry, ensuring that sufficient security is provided is also essential, as nearly 66% of the online payments by 2020 will take place using biometric authentication. Biometric data cannot be compromised and ensuring its security is essential to help your secure payment gateway.
We, at Open Source Payment Gateway can help you with all your biometric authentication needs and our latest technology, solutions and products will help your business. If you have any questions, feel free to contact us.