Biometric Payments: What might hinder the advent?

The payment industry has been evolving rapidly and the recent change is in biometric payments. With fingerprint security and other biometric authentication methods available, the way we make a payment is set to change. You cannot ignore biometric authentication to provide a secure payment gateway. It offers a great deal of fraud prevention and convenience for customers.

The basics of Biometrics

To make a payment using biometric technology, customers will have to make use of a physical identity feature to authenticate them, using the fingerprint, iris, selfies or voice. It might evolve to other options as well. This way, passwords, PINs and other authentication factors that you might need to remember can be eliminated.

How Biometrics will impact payments?

As per research, 2/3rd of the transactions by 2020 will make use of biometric authentication. Biometric authentication is a two-edged sword, as it provides a great level of security, but secure payment gateway providers will have to ensure that the biometric data is not compromised, as it cannot be reversed.

We, at UniPay, are excited to help you with all your biometric needs. Our latest technology, products and highly experienced team will be able to deliver you with solutions for the most complex requirements. 

Visit #UniPayGateway website to read the respective article.