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FortressPay to launch biometric payment platform as consumer interest grows

FortressPay to launch biometric payment platform as consumer interest grows
 

FortressPay has announced the launch of its biometric payment platform using the Amazon Web Services Independent Software Vendor (AWS ISV) program, while PYMNTS releases findings from its study of biometric authentication trends for consumers.

FortressPay launches biometric payment platform for enterprises in the US

Global fintech FortressPay will use the AWS ISV program to bring its payment identity platform to the market.

Mobile device payments make up over 65 percent of all credit card transactions in the world, according to the company’s CEO, Alessandro Chiarini. FortressPay can help merchants lower their payment processing fees by reducing chargebacks to nearly zero while creating a frictionless checkout experience.

FortressPay worked with SoftwareOne, a software and cloud service provider for security and scalability, to create the platform.

“FortressPay’s disruptive concept of the Payment Identity platform and their challenge to our engineering team to provide the necessary redundancy and compliance to ensure the platform was enterprise ready, was an exciting and challenging project for SoftwareOne,” says Global Partner Channel Business Lead Rodrigo Eleoterio.

The launch comes as major card brands announce the implementation of biometrics for fraud prevention. American Express announced the implementation of face and fingerprint biometrics to SafeKey for online transactions in October.

Growing consumer interest

PYMNTS Intelligence recently released a study in collaboration with AWS, “Tracking the Digital Payments Takeover: Biometric Authentication in the Age of Mobile.” It found that over half of all online shoppers already use biometric authentication for online purchases, while nearly another 15 percent are interested in using the methods for future transactions.

Speaking in an interview with PYMNTS last month about the broader adoption of biometrics, Entersekt Chief Strategy Officer Dewald Nolte noted that “people are getting used to logging into their favorite apps on their smartphones using biometrics daily … and wallets using biometrics to activate that payment [are] fairly well adopted in the market.”

The majority of shoppers surveyed by PYMNTS said they were at least very likely to use biometrics to make payments if they received rewards or discounts for using the method and if more merchants accepted it.

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