Future security: welcome biometric payments

In the matter of security two-factor authentication is one of the most used and trusted method of online payment acceptance and processing from the beginning of first e-commerce Web sites. Even due to its couple of questionable factors.

Now for more than a decade researchers and technologists are trying to improve this method.  It is no coincidence that biometrics is becoming the essential new factor for authenticating identities. After all, biometric characteristics are something the user always has easy access to, are difficult or impossible to counterfeit, and unique to the user.

It is probably going to be the most beloved online payment authentication method for security concern shoppers. Biometric payment sounds like stuff from Star trek but it is soon to be a everyday reality. A WorldPay survey indicated that 49% of European consumers would most like to see biometric payments emerge as a payment technology alternative. We can see the trend with banks in introducing voice recognition for users of telephone banking service for quite some time now. The voice recognition system verifies customer based on their speech patterns.

Even more Mastercard has recently introduced the first European biometric card trail in Norway and Poland, with cards featuring a built in finger vein sensor allowing it to verify the person using it. We can see the finger vein sensor is a progression of the fingerprint scanner we're seeing in the likes of the iPhone 6 and Samsung Galaxy S5, adding in an additional layer of security to the scanning process.

Of course this brings up a point of whether or not we are willing to let banks monitor our biometric details at all, but as mobile phones continue to gain features such as face recognition, fingerprint scanners and heart rate monitors it's only a matter of time before it percolates down to our payment systems.

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