Fingerprint Authentication Ready for Use in Mobile Payments
Midsize firms should prepare for mobile payment technology that relies on fingerprint authentication, which is gaining momentum in Asia and is expected to eventually make its way around the world. South Korean technology firms are creating apps that allow users to pay for in-store purchases using fingerprint sensors on their mobiles instead of a pass code, leading to consumer security concerns, says CITEworld’s Chris Nerney. Fingerprint authentication for mobile payments has been slow to catch on in the United States, where users are content with credit cards. In addition, security remains a concern, particularly when consumers lack knowledge about the process or technology. However, as the technology improves, consumers and businesses are likely to grow more comfortable with biometrics and fingerprint authentication, which makes personal data theft more challenging. Biometrics can enable clients and business partners to conduct business in the most convenient and secure manner. In addition, the technology can enable midsize companies to increase productivity and gain a competitive advantage.
From “Fingerprints and Mobile Payments: Are Midsize Firms Ready?”
Midsize Insider (12/09/13) Tejada, Marissa