This week in biometrics industry stocks

As the biometrics industry continues to grow and expand Biometric Update is bringing a new focus to some of the stock stories in the sector. Check in with this space each week for a rundown of some of the financial news emerging out of the group of biometrics industry stocks we like to follow. – Might a new wave of government-based biometric business be about to emerge in Canada? Seems so. The trendy magazine Vice reports this week that, “For

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,

Safran providing software, manufacturing capacities for Mastercard biometric card

Safran Identity & Security is providing biometric card software and manufacturing capacities for Mastercard’s next generation biometric card. The new payment card combines chip technology and biometrics to provide a strong and convenient authentication method at the Point of Sale (POS). Cardholders can place their finger onto the card, at which point their fingerprint is matched against the biometric template on the card. By linking a person’s biometric identity to a payment card, Safran is opening up a wide range

Mastercard study forecasts growth of mobile payments, wearables, biometrics

Mastercard has published new research exploring the growth of digital payments and other payment technologies, which found that 59 percent of respondents believe that mobile payments will be the next payment technology to take-off. In addition, 47 percent of respondents think that wearable technology will be the next big payment technology, followed by biometrics such as facial recognition and fingerprints (42 percent). The credit card giant surveyed over 1,000 New Zealanders for the annual study, which found that more than

IDEX fingerprint sensor featured in Mastercard’s biometric card

IDEX revealed that its flexible off-chip fingerprint sensor is featured in the Mastercard next generation biometric card. Mastercard’s recently released biometric card combines chip technology with fingerprints to seamlessly and safely verify a cardholder’s identity for in-store purchases. The biometric card works similar to any other chip card whereby the cardholder inserts the card into a retailer’s terminal while placing their finger on the embedded sensor. The fingerprint is verified against the template and, if the biometrics match, the cardholder

Mastercard unveils biometric card, completed trials in South Africa

Mastercard has unveiled its biometric card, which combines chip technology with fingerprints to seamlessly and safely verify cardholder’s identity for in-store purchases. The credit card firm initially tested the technology in the South African market, having recently completed two separate trials with supermarket retailer Pick n Pay and Absa Bank. The company is also planning additional trials in Europe and Asia Pacific in the coming months, followed by a full roll out later this year “Consumers are increasingly experiencing the

Samsung Galaxy S8 to feature Princeton Identity iris technology for Mastercard selfie pay

Princeton Identity announced that its patented iris recognition technology is featured in the Samsung Galaxy S8. Earlier this week Samsung announced that the Galaxy S8 will feature facial, iris and fingerprint recognition to deliver improved security for mobile banking and other sensitive applications. Princeton Identity’s iris recognition technology will enable S8 users to quickly unlock their phones with a quick glance at their device. Capturing over 200 points of a person’s iris, iris recognition is far more secure than a

Mastercard to acquire NuData Security to boost IoT payment security

Mastercard said it will acquire NuData Security, which provides online and mobile fraud detection solutions using behavioral biometrics, according to a report by ZDNet. The acquisition, whose terms were not disclosed, will see Mastercard integrate NuData’s behavioral biometrics technology into its fraud management and security products. The understanding here is that secure payments will play an integral role in the Internet of things ecosystem and smart devices. NuData’s flagship product line, NuDetect identifies authentic users over fraudulent ones based on

Mastercard study shows that 43 percent of social media users interested in biometrics

Mastercard released its fifth annual Mastercard Digital Payments Study, which found that 43 percent of social media users expressed interest in biometrics and other forms of authentication to deliver improved security, lower fraud and move beyond traditional passwords. The report, which was compiled in partnership with PRIME Research and Synthesio, stated that biometric authentication conversations were driven by new developments in facial recognition and fingerprint and touch authentication. In fact, these authentication technologies accounted for 51 percent of these conversations,

Mastercard to launch facial recognition payment app in Australia

MasterCard will soon launch its MasterCard Identity Check app in Australia, which enables users to use facial recognition to complement their passwords instead of completely replacing them, according to a report by The Sydney Morning Herald. The credit card giant initially began rolling out the Identity Check app, nicknamed “Selfie Pay”, in Canada and the U.S. last March, and plans to launch the service in Australia later this year but has not specified an exact launch date. In addition to