Raonsecure FIDO-certified biometric technology to run on Infinitum authentication platform

Korean biometric system developer Raonsecure has signed an agreement to supply its Fast Identity Online (FIDO) certified solution to Malaysian online payment firm Infinitium from next year, according to a report by The Investor. The companies said the partnership will combine Raonsecure’s biometric authentication expertise with Infinitium’s electronic payment services in the Southeast Asian region where Infinitium has 200 million users. Raonsecure’s technology, TouchEn OnePass, will be operating on Infinitum’s authentication platform that authenticates the user’s identity using their fingerprint,

India’s mobile payments interface to include pre-authorized payments, biometrics

National Payments Corporation of India (NPCI) Ltd. plans to launch an update to its Unified Payments Interface (UPI) system later this year. NPCI launched UPI in April 2016 with the aim of becoming a universal platform that would allow consumers to make payments using their mobile phone, without the need for downloading an app to send or receive money, thereby eliminating the need for e-wallets. The payments firm notes that since its introduction, UPI has experienced a growth rate of

Juniper Research projects retailers could lose $71B in card-not-present fraud

Juniper Research has published new research which forecasts that retailers could lose $71 billion globally from fraudulent CNP (card-not-present) transactions over the next five years. The “Online Payment Fraud: Emerging Threats, Key Vertical Strategies & Market Forecasts 2017-2022” report found that several factors including the United States’ shift to EMV cards, delays in 3DS 2.0 (3D-Secure) and click-and-collect fraud were key drivers behind the increasing loss. The research found that many merchants still perceive combatting fraud as too expensive, and

Lawsuit alleges Apple Pay violates patents related to biometrics

Device security company Universal Secure Registry (USR) filed a lawsuit in a Delaware Federal District Court Sunday against Apple and Visa, alleging patent violation by Apple Pay. Kenneth P. Weiss, CEO of USR, holds 13 patents relating to authentication systems using a smartphone, biometrics, and secure one-time token generation for financial transactions, according to the lawsuit. USR alleges its technology protected by those patents is at the core of Apple Pay. The suit also alleges that Weiss had extensive meetings

Mobile biometric payment volumes to reach nearly 2B in 2017

Juniper Research has released a new study that forecasts that the number of mobile biometric payments will increase to nearly 2 billion this year, up from just over 600 million in 2016. In the new study, “Mobile Payment Security: Biometric Authentication & Tokenisation 2017-2021”, Juniper found that while Apple Pay had provided the catalyst for initial growth, other digital wallets including Android Pay and Samsung Pay were increasingly offering biometric authentication solutions. The study also found that the size of

Samsung’s facial recognition not ready for mobile payment, insiders say

Sources from Samsung and industry insiders claim that Samsung’s facial recognition technology requires more than four years to be solely used to authenticate mobile payments, according to a report by The Investor. Samsung announced last month that the Galaxy S8 will feature facial recognition technology, in addition to iris and fingerprint, to deliver improved security for mobile banking and other sensitive applications. In addition, the technology is expected to be used for Apple’s iPhone 8 which will be released later

LG to adopt 3-D face recognition for G6 and mobile payment system

LG Electronics has reportedly partnered with facial recognition solutions firm Oez to integrate 3-D facial recognition software into its upcoming G6 smartphone, according to an article by The Investor. After several negotiations and tests, LG will deploy the software in the G6 as early as June when the company plans to launch its own mobile payment system, LG Pay. “Should LG utilize OezFR to support the payment system, it will be the first time for a facial recognition system to

Samsung Galaxy S8 said to use facial recognition technology for payments

Samsung’s upcoming Galaxy S8 will include a facial recognition feature for mobile payments within months of its March 29th release, which could give the smartphone a competitive edge over Apple’s iPhone products, according to a report by Bloomberg citing people familiar with the matter. The S8 will combine fingerprint, iris and facial detection to verify users accessing a range of mobile services including Samsung Pay, according to the sources who requested not to be identified about the private matter. Samsung,

Smart Card Alliance rebrands, expands charter

The Smart Card Alliance has changed its name to the Secure Technology Alliance and expanded its charter to include a broader range of security and privacy-enhancing technologies. “The Alliance’s focus has always been on engaging in industry-wide discussion and providing best practices and educational resources for designing and building secure payments, identification, access and mobile applications and systems,” said Randy Vanderhoof, executive director of the Secure Technology Alliance. “As the world becomes increasingly interconnected and mobile, the technology used in

Survey addresses consumers security concerns when holiday shopping online

Computop released the results of its 2016 Holiday Shopping Season study, in which it surveyed US and UK consumers about how they intended to shop in the holiday season, their preferred payment methods, and their security concerns when shopping online. The web-based survey is based on 1,932 qualified responses (US: 1,037; UK: 895) between the ages of 18 and 60-plus. In terms of online payment preferences, trusted payment methods differed slightly between US and UK respondents. For instance, 59% of