Biometric identification through access card or fingerprint recognition has been successfully adopted in the consumer ecosystem as it ensures security.
In this article at Global Banking and Finance, Stan Swearingen talks about the advantages of biometric recognition that automates the identification of physiological properties.
With cyber attackers turning sophisticated enough to hack your account using photographs to simulate facial recognition, fingerprint recognition is extremely difficult to pull off. Here are some smart ways that may benefit from biometric-enabled payment systems:
- Fully Encrypted: Payments through biometric recognition ensure the safety of data encryption. Even four-digit PIN codes are insecure, but biometric fingerprint is 99.99 percent accurate and authentic.
- Easy-to-Use: The users need to touch the finger censored biometric card and allow it to process an image. If the image matches, the payment is authorized and there is no need to revisit the bank or upload biometric data to any central database.
- Win-Win Situation: The organization can curb payment card fraud and instill trust amongst their customers who can boost sales. The customers can make frequent transactions without wasting time on lengthy payment options.
- Time-Saving: Entering a passcode or pin takes a while, but biometric fingerprint authorization is way faster than a blink of an eye.
- Uniquely Personal: It is close to impossible to simulate fingerprint of a user.
- Strong Battery-Less Performance: For fingerprint authorization, the battery is not required. The users can operate their payment card using the POS terminal embedded with enterprise-level biometric algorithms.
- Accuracy: Passwords and PINs may turn inaccurate but physical attributes like a fingerprint cannot.
- International Purchases: Users can make payments at multiple stores across the globe.
Click on the following link to read the original article: https://www.globalbankingandfinance.com/why-biometrics-are-the-need-of-the-hour-for-customer-experience-and-security/