{"id":18037,"date":"2020-09-01T17:51:09","date_gmt":"2020-09-01T17:51:09","guid":{"rendered":"http:\/\/www.evopayments.us\/staging\/?p=18037"},"modified":"2021-12-10T11:46:21","modified_gmt":"2021-12-10T16:46:21","slug":"biometric-authentication-the-next-big-opportunity-in-payments","status":"publish","type":"post","link":"https:\/\/www.evopayments.us\/staging\/biometric-authentication-the-next-big-opportunity-in-payments\/","title":{"rendered":"Biometric Authentication: The Next Big Opportunity in Payments?"},"content":{"rendered":"\n<h4 id=\"biometric-authentication-for-payment-authorization-is-a-growing-trend-whether-using-a-fingerprint-voice-recognition-or-other-means-adding-speed-ease-and-security-to-transactions\">Biometric authentication for payment authorization is a growing trend, whether using a fingerprint, voice recognition, or other means, adding speed, ease and security to transactions.<\/h4>\n\n\n\n<p>Once the stuff of science-fiction and\nHollywood\u2019s silver-screen cinematics, biometric authentication has steadily\ninfiltrated everyday life in America and around the globe. <\/p>\n\n\n\n<p>A potent cocktail has sparked the\nwidespread mainstreaming of biometric authentication technology. Advanced\nsmartphone technology has brought fingerprint\u2014and even iris\u2014scanners to\nmillions of consumers\u2019 fingertips, which they\u2019re increasingly using to tap and\nswipe on their mobile devices to purchase goods and services. In fact, $2\ntrillion worth of transactions made in brick-and-mortar stores and through\nportable, internet-connected devices are set to be authorized using mobile\nauthentication in three years\u2019 time, a 2018 Juniper Research report estimates. <\/p>\n\n\n\n<p>The market is bracing for 43 billion\ntransactions taking place over mobile and verified using biometric tech, which\nJuniper says will account for 57 percent of all instances involving biometric\nauthentication by 2023.<\/p>\n\n\n\n<p><strong>Biometrics:\nthe five forms<\/strong><\/p>\n\n\n\n<p>The catchall term \u201cbiometric\nauthentication\u201d applies to five different but commonly used technologies. Most\nconsumers with a newer-model smartphone like an Apple iPhone or Google Pixel\nmight be familiar with the discreet fingerprint scanner affixed to their\ndevice. This fingerprint-scanning form of biometric authentication has leaped\nin popularly, thanks to its ability to quickly get people into their phones and\nother devices and websites\u2014eliminating the hassle of memorizing an endless\narray of alphanumeric passwords that meet today\u2019s security muster.<\/p>\n\n\n\n<p>Facial recognition is seeing wider\nadoption as a biometric authentication solution, too. Scanning, analyzing and\ncomparing the unique details of an individual\u2019s facial features, facial\nrecognition applies an algorithm to distinguish one visage from the next. Voice\nrecognition, meanwhile, is touted as a natural way to confirm a consumer\u2019s\nidentity simply by speaking and verifying his or her individual voice\nattributes. Iris scanners photograph the highly individualized nuances of\npeople\u2019s eyes to validate their access to things like places, spaces and\npayments. <\/p>\n\n\n\n<p>Anyone who has ever been asked to trace a\npattern on their smartphone or desktop computer has participated in behavioral\nbiometrics, which also encompasses things like gait analysis\u2014monitoring the\nsubtle variances in how someone walks.<\/p>\n\n\n\n<p><strong>Benefits\nof biometrics: speedy and seamless<\/strong><\/p>\n\n\n\n<p>The answer to why biometric authentication\nis on the rise is simple: These technology-driven ways of confirming identities\noffer a leg up over competitive methods in terms of speed and convenience. A\nfleeting scan of a voice, finger, or eye keeps users breezing along toward\ntheir intended purpose. And not only can users free up brain space by ditching\nmany of their pesky passwords, but they also gain greater peace of mind as\nbiometric authentication offers robust protections against bad actors. <\/p>\n\n\n\n<p>Plus, unlike passwords that require\nconstant updates, biometric authentication remains effectively enduring; eyes,\nfingerprints and voices rarely, if ever, change. As businesses and governments\nadopt stronger security postures, implementing biometric tech ensures companies\nhave laid the groundwork to future-proof their operations in compliance with\nevolving standards. And biometrics enable marketers to pinpoint specific\nconsumer behavior, offering granular insights on interests, affinities and\nmore.<\/p>\n\n\n\n<p><strong>Biometrics\nbeware: what to keep in mind<\/strong><\/p>\n\n\n\n<p>Like any technology, biometric\nauthentication comes with its own share of fine print. Despite its many\nupsides, biometrics have been known to report unsettling \u201cfalse positives,\u201d\nmeaning someone is \u201cmatched\u201d to the wrong identity. Scanners and other\ndata-capture methods sometimes have trouble accurately recording inputs, while\noverly sensitive tech might occasionally see oily or dirty fingerprints, for\nexample, as a reason to invalidate someone\u2019s identity. Many harbor privacy\nconcerns over who has access to highly specific biometric data, and because\ndata captured by scanning or photographing a body part is so powerful, hackers\ncan do incredible damage and steal legitimate identities if this information\nfalls into the wrong hands. <\/p>\n\n\n\n<p><strong>Biometrics\nare booming around the world<\/strong><\/p>\n\n\n\n<p>Biometrics are seeing steady adoption not\njust in the U.S., but outside its borders, too. The Indian government has\nenrolled nearly all of its roughly 1.4 billion-strong populace in a system that\nleverages data, including a fingerprint and iris scan to unlock access to\nsocial welfare benefits, underscoring biometric authentication\u2019s user-friendly,\nfrictionless upsides. Meanwhile, countries ranging from Brazil to The Gambia to\nNew Zealand collect biometric data to regulate rights like voting and to\nstrengthen passport controls. <\/p>\n\n\n\n<p>As technology evolves and breaks down borders, biometric authentication shows little sign of fading from its central role in modern-day security. <\/p>\n\n\n\n<div style=\"height:27px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator is-style-dots\"\/>\n\n\n\n<div style=\"height:17px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n    <div class=\"cta cta-full\">\n        <img src=\"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/11\/cta_full-width_3.jpg\" alt=\"\" \/>\n        <div class=\"content-holder\"> <!--this extra div is needed to make line behind content and above image-->\n          <div class=\"content\">\n            <h3>Connect with Us<\/h3>\n            <p>With business activities in 50 markets and 150+ currencies around the world, EVO is among the largest fully integrated merchant acquirers and payment processors in the world.<\/p>\n            <div class=\"button-container\"><a href=\"\/about\/contact-us\/\" class=\"btn border\">Contact Us<\/a><\/div>\n          <\/div> <!-- \/.content -->\n        <\/div> <!-- \/.content-holder -->\n    <\/div><!-- \/.cta -->\n\n        ","protected":false},"excerpt":{"rendered":"<p>Biometric authentication for payment authorization is a growing trend, whether using a fingerprint, voice recognition, or other means, adding speed, ease and security to transactions. Once the stuff of science-fiction and Hollywood\u2019s silver-screen cinematics, biometric authentication has steadily infiltrated everyday life in America and around the globe. A potent cocktail has sparked the widespread mainstreaming [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":18038,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":3,"_editorskit_typography_data":[],"_editorskit_blocks_typography":"","_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","_mi_skip_tracking":false},"categories":[49,460,15],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Biometric Authentication: The Next Big Opportunity in Payments? - EVO Payments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.evopayments.us\/staging\/biometric-authentication-the-next-big-opportunity-in-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biometric Authentication: The Next Big Opportunity in Payments? - EVO Payments\" \/>\n<meta property=\"og:description\" content=\"Biometric authentication for payment authorization is a growing trend, whether using a fingerprint, voice recognition, or other means, adding speed, ease and security to transactions. 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Once the stuff of science-fiction and Hollywood\u2019s silver-screen cinematics, biometric authentication has steadily infiltrated everyday life in America and around the globe. A potent cocktail has sparked the widespread mainstreaming&hellip;","_links":{"self":[{"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/posts\/18037"}],"collection":[{"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/comments?post=18037"}],"version-history":[{"count":6,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/posts\/18037\/revisions"}],"predecessor-version":[{"id":20685,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/posts\/18037\/revisions\/20685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/media\/18038"}],"wp:attachment":[{"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/media?parent=18037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/categories?post=18037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/tags?post=18037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}