Visa study finds millennials favor biometrics-secured payments

Visa has published a new study which reveals that millennials are interested in making biometric-secured payments using identifiers such as fingerprints and irises, according to a report by New Zealand Herald. The Visa New Zealand Millennial Survey found that 62 percent of millennials are interested in using biometrics for payments because “they see it as being secure and convenient and having the ‘cool factor’.” “Emerging payment technology like biometrics remove potential pain points for customers,” said Marty Kerr, New Zealand

Visa says E.U.’s strategy to password protect electronic payments may backfire

Visa said that the European Union’s planned strategy for combating fraud by implementing mandatory use of passwords or pin codes to authenticate all electronic transactions over 10 euros ($10.60) could potentially disrupt online shopping and may not boost security, according to a report by Fortune. The European Banking Authority, the EU’s banking regulator, proposed in August draft technical standards to combat the growing occurrence of cybercrime and online fraud. “These new proposals threaten to seriously disrupt the way we all

Visa, BioConnect explore password free multi-factor authentication

In a presentation at this year’s Money20/20, Visa partnered with BioConnect to demonstrate a multi-factor authentication experience that works across a range of devices and operating systems. By enabling many biometric technologies, an app can prompt for another biometric method when the default one fails. For example, if the fingerprint sensor cannot read the user’s fingers because they are a bit damp, the individual can use an alternative biometric such as voice recognition. Through Visa and BioConnect’s new collaboration, users

Visa study shows Brits trust banks over governments to protect biometrics

Visa Europe published new research that shows that Britons are placing their trust in banks over government agencies to protect their biometric data. According to the study, UK consumers are nearly twice as likely to trust banks to store and retain their biometric data safe (60%), than they are to trust government agencies (33%). In regards to who they would trust to offer biometrics authentication as a service to confirm identity, 85% of consumers chose banks, 81% selected payment networks,

Visa study shows European consumers ready to adopt biometrics for payments

Visa Europe has released the results of its new Populus-commissioned study that finds that European consumers are interested in using biometrics for payments, particularly when they are integrated with other security measures. The research was conducted between April 22 and May 6, 2016 in the UK, Sweden, Spain, France, Germany, Italy and Poland, and surveyed a total of 14,236 consumers with around 2,000 people per country. Seventy-three percent of respondents view two-factor authentication as a secure way to confirm an

Biometrics and banking, access control and fingerprint technology trending this week

Here is a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week. Financial services Wells Fargo has been recognized with the “Most Innovative Feature Award” for its mobile biometric authentication application in its Commercial Electronics Office (CEO) portal by Barlow Research’s 2016 Monarch Innovation Awards. The bank has combined multiple biometric characteristics, including face plus voice and eyeprint id, to significantly improve security while simplifying the user experience for mobile banking access. Morpho is

Morpho collaborates with Visa to promote biometrics-based payment technology

Morpho (Safran) is contributing its expertise in biometrics as part of a Visa Europe exhibition in Paris, France this month. The “Visa Explores the Future in Paris” travelling dome event is open to the general public and will stop at different locations across the city from April 7 to 23. In a specific area of the dome dedicated to innovations in payments, Morpho will present biometric solutions that combine security and facility for consumers when making purchases The first demonstration

Biometric data protection, fingerprint technology and payment solutions trending this week

Here is a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week. Fingerprint technology Gemalto, Fingerprint Cards, Precise Biometrics and STMicroelectronics have collaborated on an end-to-end security architecture for biometric fingerprint authentication in wearable and consumer electronics devices. The companies say that the solution will offer new opportunities to the consumer electronics market to implement secure authentication solutions based on FIDO Alliance’s specification. PayPal recently rolled out an update of its app to now

Morpho collaborates with Visa on biometrics based payment solutions

Morpho (Safran) announced it is partnering with Visa to demonstrate new payment solutions using technologies such as biometrics, tokenization and digital signatures. These technologies will be used with existing payment methods such as credit or debit cards, mobile, ATMs and points of sale (POS) terminals, to improve transaction security for financial institutions and customer convenience. “Visa is always exploring new technologies which enhance payment security and convenience for financial institutions and their customers,” said Bill Gajda, senior vice president of

Biometrics and online authentication, payments, fingerprint technology and MWC trending this week

Here is a recap of the most popular biometrics industry news that appeared on BiometricUpdate.com this past week. Online authentication Morpho (Safran) announced that Samsung SDS is using Morpho’s facial recognition technology as part of its new multimodal, online authentication solution. The face recognition technology from Morpho includes embedded liveness detection to ensure the face submitted is captured from a live user and not a stored photo or video ensuring reliable and strong online authentication methods to avoid fraud. The