New EU regulations scheduled to come into force in September 2019 will cause a significant increase in the use of biometrics to verify online payments, Mastercard predicts.
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Visa has unveiled Visa ID Intelligence, a platform that enables issuers and merchants to swiftly adopt new authentication technologies to create more secure ways for consumers to complete digital transactions.
Nearly three quarters of millennials believe facial recognition technology will be effective or very effective in providing biometric authentication, a study by payments consultancy Aite Group revealed.
Retailers are monitoring customers’ facial expressions, heart rate and even pupil dilation in order to gauge shoppers’ reactions, spot thieves and improve the overall experience.
Consumers in the East are more likely to adopt biometrics than those in the West, according to HSBC’s Trust in Technology report.