SmartCard Marketing Systems, CardLogix to develop closed-loop payment solutions

SmartCard Marketing Systems, Inc. and CardLogix Corporation have partnered to deliver seamless payment solutions that connect SmartCard Marketing Systems’ payment architecture to CardLogix’ smart card platforms. Through the collaboration, the companies will provide a sandbox solution as well as custom-built solutions that optimize speed, mobility, and security for medium-sized enterprises, governments, and resort and casinos. The system will map ID filters and parameters of the unique user for sending payments securely over a cloud-hosted, closed-loop payment system. “We are excited

Syniverse, Pinn to deliver stronger security and continuous attribution

Syniverse and Pinn have partnered to combine Syniverse’s global platform with Pinn’s attribution solution to deliver a stronger level of transaction security and continuous attribution. These capabilities are required by impending regulation like Payment Services Directive 2 (PSD2) and the General Data Protection Regulation (GDPR). Pinn’s attribution solution collects data regarding a user’s behavioral biometrics — which use the recognition and analysis of an activity that users do frequently, such as how they hold their smartphone or type on a

Selfie payments firm accepted into FCA’s ‘regulatory sandbox’

Two firms utilizing facial recognition in their solutions are among the 24 fintech companies selected to test their products on actual customers in the UK, according to a report by Banking Technology. The Financial Conduct Authority (FCA) accepted 24 firms including German face recognition payments firm Saffe and Swiss artificial intelligence firm nViso into its so-called “regulatory sandbox”. The program allows businesses with innovative technology to run trials with UK consumers that are strictly supervised by the FCA. Saffe provides

Mastercard and Oxford University unveil framework for mobile biometric banking

Despite a strong consensus among consumers and banks that biometrics should replace passwords for access to financial accounts, knowledge gaps are slowing the transition, according to the report “Mobile Biometrics in Financial Services: A Five Factor Framework,” released Tuesday by researchers from Oxford University and Mastercard. Since 93 percent of consumers prefer biometrics to passwords, according to researchers, and 92 percent of banks want to adopt biometric technology, its adoption should be advancing rapidly. Only 13 percent have deployed biometrics,

Korea Internet & Security Agency developing biometric authentication for mobile banking

South Korean government-run Korea Internet & Security Agency is developing biometric authentication for mobile banking with plans to commercialize the technology by late 2018, according to a report by The Korean Herald. “We are developing an algorithm for authenticating mobile banking with a combination of a fingerprint, heart rate and (an) electrocardiogram,” said Jason Kim, chief of KISA’s security technology dissemination team. “The technology is expected to be much safer than existing biometrics including iris sensors, fingerprint scanners and facial

Diebold Nixdorf, Samsung SDS to showcase biometric ATM

Diebold Nixdorf and Samsung SDS America have partnered to showcase how integrating mobile biometric technology and the self-service channel can help improve security and the overall consumer experience. The companies will jointly demonstrate the mobile-based biometric authentication method at the Digital Banking conference in Austin, Texas on June 12-14. The mobile-based transaction combines Samsung SDS Nexsign, a FIDO compliant biometric authentication platform that includes facial recognition technology combined with the ATM to complete a secure cardless cash withdrawal in seconds.

Digital payments will boost demand for mobile biometric security

Transparency Market Research has published a new research report that shows that the global mobile biometric security and services market has made consistent progress in the last few years due to the increasing demand for smartphones and the rising acknowledgment of the benefits presented by biometric technology. “Mobile Biometric Security and Services Market: Professional Market Research Report and Forecasts, 2017 – 2025” finds that the main driver for the demand from the mobile biometric security and services market is the

EyeVerify details PSD2 and how payment providers can comply with SCA requirements

In a new company blog post, EyeVerify solutions engineer Ryan Schroeder details the essential aspects of the Revised Payment Services Directive (commonly referred to as PSD2) and what payment service providers will need to do in order to be compliant with the law’s strong customer authentication (SCA) requirements. PSD2, which will go into effect in January, is designed to make it more convenient, faster, less expensive and more secure for consumers to make digital payments, as well as to develop

Zwipe secures new orders for its biometric payment solution

Zwipe has secured two new orders for its biometric payment solution, the first from an undisclosed customer in Asia and the second from a global tier-1 card manufacturer. These customers are expected to deploy cards with Zwipe’s biometric payment solution in Q3 and Q4 in Europe and Asia. The solution consists of an electronic inlay embedded into existing payment cards. The inlay integrates an off-the-shelf fingerprint sensor with Zwipe’s biometric engine and power harvesting technology to allow the authorized user

Signicat launches mobile authentication product

Identity assurance firm Signicat has launched MobileID, the company’s new mobile authentication product. In addition to providing fast onboarding and identity assurance to financial service providers using several digital identity schemes, Signicat now offers strong customer authentication (SCA) using the end-user’s smart device. The European Union’s upcoming Payment Services Directive (PSD2) legislation will mandate that many transactions over €30 (US$33.8) must be authorized with at least two-factor authentication. MobileID will enable financial services providers to offer multi-factor authentication in advance