11/30/17 - Biometric Authentication in Payments
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11/30/17 - Biometric Authentication in Payments

Promontory’s privacy and data protection practice has released Biometric Authentication in Payments, a report examining the use of biometrics, such as fingerprints and facial characteristics, for authentication in retail payments. The report explores the rapidly expanding role of biometrics in commerce, and sets out several principles to assist to assist entities considering the important role of biometrics in the future of payments.

The outlook for biometric authentication in payments is positive, the report concludes. Biometric technologies offer payment-system participants several tangible benefits, such as greater convenience and enhanced security, particularly when used as part of a layered, risk-based security strategy.

Visa engaged Promontory to develop a research-based report examining the key drivers behind the increased adoption of biometric technologies, the benefits biometric authentication in payments, risk mitigation actions, and issues for further attention by payment system stakeholders.

The report is based on market research and interviews with industry experts, academics, and other key stakeholders, on topics such as standardization, security, privacy, and innovation.

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