FB pixel

Biometrics the preferred second factor for strong customer authentication for mobile commerce

 

Biometric authentication will continue to be adopted for mobile commerce due to its combination of better security and improved user convenience as merchants apply multifactor-based strong customer authentication (SCA) in response to fraud risks and compliance requirements from card networks and regulators, according to a report from Mobey Forum.

“Authentication in M-Commerce: Balancing Risk and Experience” describes a challenging environment for mobile commerce retailers, as customer habits, fraud threats, and compliance requirements evolve. It predicts that U.S. Account Takeover Losses will rise from $392 million in 2013 to an expected $1.09 billion in 2020.

Despite this, reducing friction in the user experience is considered “very important” by 91 percent of those surveyed, while improving security and customer trust is considered very important by 68 percent, and “somewhat important” by 30 percent.

The report also discusses methods of SCA, including the EMV 3-D Secure messaging protocol and FIDO.

Biometric authentication is the second-factor technology of choice for 50 percent of those surveyed, far ahead of a software token or app running on the mobile device (20 percent) and one-time passwords (OTP) (8 percent). “Biometrics, however, are not a silver bullet and should be used in concert with other technologies,” the report authors warn.

They also suggest that the €30 threshold for applying SCA mandated by PSD2 is too low, and that risk-based authentication (RBA) is the most important tool for improving security and user experience.

Article Topics

 |   |   | 

Latest Biometrics News

 

Anticipation for Metalenz and Samsung’s answer to Face ID mounts

After Samsung and Metalenz collaborated to incorporate Samsung’s Isocell Vision 931 image sensor into Metalenz’s Polar ID imaging technology, Mashable…

 

Germany beefs up border security ahead of UEFA Championship

Germany has been ramping up security measures such as border checks and CCTV surveillance in preparation UEFA European Football Championship…

 

Inverid and Cybernetica team up to secure digital ID, signatures with biometric MFA

A new partnership has been formed by Inverid and Cybernetica to combine the NFC ID document-scanning capabilities of the former…

 

Vision-Box unveils new Service Design platform for travel experience enhancement

Vision-Box, an Amadeus company known for its biometrics-based travel offerings, has introduced its latest service innovation: Service Design, which aims…

 

Moldova’s first digital ID app sees 24K downloads in five days

Moldova’s first digital identity wallet was downloaded over 24,000 times within the first five days, causing temporary glitches due to…

 

Australia and Japan showcase cross-border verifiable credentials

In recent years, Australia and Japan have both launched digital identity initiatives allowing their citizens to verify themselves online. The…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events