Biometrics: The key to overcoming contactless payment limits?

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Digital identity solutions are becoming more and more commonplace, especially as consumers grow increasingly aware of the weaknesses of authentication methods like passwords. A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place.Businesses and organizations are already taking steps to close this security gap. Approximately 90 percent of mid-size organizations and 60 percent of large companies are expected to begin phasing out passwords by 2022, instead turning to digital ID solutions such as two-factor authentication or biometrics.In the March Digital Identity Tracker®, PYMNTS explores the latest developments in the world of digital IDs, including the rise of biometrics in the border control sector, challenges to digital ID posed by the new coronavirus outbreak and a new credit card-mounted fingerprint reader from NatWest.last_img

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