The time is bow for biometrics in financial services, for tackling fraud and extending banking services to previously under-served populations. So argues Lorenzo Gaston, Technical Director of the Smart Payment Association (SPA). He’s speaking on Thursday, November 21 at www.cartes.com. The introduction of biometric cardholder verification represents he says a step forward for the finance industry, opening the way to eliminating fraud for issuers and cardholders, reducing costs, and providing the extra security and identity verification required to support remote or cross-border transactions.
Gaston will review biometric technologies, setting out the SPA position on how biometric Match-on-Card authentication delivers in terms of security and data privacy.
Andreas Strobel, President, SPA said: “The introduction of biometrics authentication would deliver significant benefits in terms of tackling card payment fraud, extending cardholder verification through the introduction of an additional validation factor. Adding biometric to an EMV card has the potential to facilitate access to financial services for previously hard to reach populations and opens the way to provisioning a range of services that require a legally accepted digital signature – from subscribing to a new financial service through to proceeding with a mobile commerce transaction or the download and transfer of electronic money.”
Lorenzo Gaston will present the SPA position on biometric cardholder authentication on 21 November at 12.30, during the Biometrics: Privacy and Security Concerns conference track of CARTES 2013.
The SPA has a whitepaper on Biometrics for Payment Applications. Visit http://www.smartpaymentassociation.com
