Incognia introduces behavioral biometrics for QR code payment fraud detection

Solution to help businesses fight synthetic ID fraud in contactless transactions
Incognia introduces behavioral biometrics for QR code payment fraud detection

Incognia has released a new solution that applies what the company calls “location behavioral biometrics” to combatting fraud in QR Code contact-free financial transactions.

The solution will specifically help retailers, restaurant owners and payment service providers, a news release from the company announced.

According to Incognia, its fraud detection platform uses location behavioral biometrics, verifying buyers’ and sellers’ real-time and historical location behavior to protect against fake QR codes, account takeovers and use of synthetic identities during transactions. The solution works for physical in store, remote and peer-to-peer QR code contactless payments, the statement indicated.

For consumers, Incognia explained that its new technology “creates a private digital identity that enables a user’s device to produce a unique location fingerprint, without compromising any of the user’s personally identifiable information.”

The new solution is hailed by the company as coming at the right moment, and Gartner’s Consumer Pandemic Attitudes and Behaviors Survey is cited as finding that people increasingly prefer doing business with institutions and businesses that accept payments without having to engage in any physical contacts.

The study by Gartner also shows that “by 2024, 80% of ordering and replenishment will be touchless for most organizations” and that “customers have become more conscious about their health and safety, leading to changes in their consumption behavior in both their personal life and their work.”

“The year 2020 has seen a surge in contactless commerce as retailers rapidly adapt to keep consumers and staff safe. QR code contactless payments are seeing rapid adoption because of ease of use. QR codes can be easily integrated into retailer apps and scanned by consumers using a smartphone. We’re proud to provide our fraud detection solution to enable safer ways of doing business that are secure and frictionless,” said André Ferraz, CEO and founder of Incognia.

The company said its location technology uses network signals from GPS, Wi-Fi and Bluetooth along with on-device signals to identify precise locations without capturing any PII, providing real-time location verification and also building an anonymous location behavioral pattern. The technology is used in more than 90 million devices in the Americas, Incognia said.

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