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Tag: biometric

  • India To Implement Facial Recognition, Fingerprint Verification For Upi Transactions From October 8

    India To Implement Facial Recognition, Fingerprint Verification For Upi Transactions From October 8

    Starting October 8, India will incorporate facial recognition and fingerprint verification as methods for approving transactions carried out through the nationally renowned Unified Payments Interface (UPI), according to insiders with direct knowledge of the situation.

    The authentication process will employ biometric data stored within Aadhar, the Indian Government’s singular identification system, an anonymous source disclosed.

    This initiative comes after the Reserve Bank of India issued new guidelines allowing for alternative means of authentication. This marks a significant shift from the existing system, which necessitates a numeric PIN for transaction verification.

    The National Payments Corporation of India (NPCI), the entity responsible for operating UPI, intends to unveil this novel biometric attribute at the ongoing Global Fintech Festival in Mumbai, stated the sources who requested anonymity due to not being permitted to speak to the press.

    The NPCI has not responded immediately to requests for comment.

    Questions & Answers

    When will the new biometric features for payment approval through the UPI be introduced in India?
    The new features for payment approval which include facial recognition and fingerprint verification will be introduced starting October 8.

    What is the current system for approving transactions carried out through the UPI?
    The existing system of approving transactions carried out through the UPI requires a numeric PIN for transaction verification.

    Who operates the UPI and who intends to showcase the new biometric feature?
    The UPI is operated by the National Payments Corporation of India (NPCI), which plans to debut this novel biometric feature at the ongoing Global Fintech Festival in Mumbai.

  • South Korean bank launches hand palm recognition verification

    South Korean bank launches hand palm recognition verification

    A South Korean bank has launched a service allowing customers to use palm recognition to withdraw cash – a likely precursor to similar technology becoming available in retail stores.

    KB Kookmin Bank says by using palm prints, customers no longer have to use a bankbook, stamp or password.

    The bank explained that palm vein recognition is safer and more precise than other biometric identification methods such as fingerprint or iris recognition. It believes the service will appeal to older customers who often have difficulty recalling passwords.

    According to a report, using palm recognition is also quicker than current means. Palm vein patterns differ by individual, allowing the scanner to correctly identify the customer.

    Similar palm-vein scanners are already being used at automated teller machines (ATM) from major banks worldwide, including Barclays in the UK and Ogaki Kyoritsu Bank in Japan.

    To prevent biometric information from leaking, the bank will encrypt the vein pattern database and work with the Korea Financial Telecommunications and Clearings Institute to store the information. The data will be disassembled into multiple blocks when stored, and reassembled when used for transactions.

    KB Kookmin Bank expects that the new palm-recognition service will particularly benefit senior customers who often have a hard time remembering passwords.

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  • Singaporeans interested in biometric authentication

    Singaporeans interested in biometric authentication

    Singaporeans are interested the use of biometric methods to verify identity (97%) and make payments (96%), while recognizing that biometrics are faster, easier and more secure than traditional passwords, according to a recent Visa survey on biometric authentication for payments.

    The survey titled “Biometrics in Payments: Singapore” was conducted by AYTM Market Research late last year. Respondents consisted of 500 adult consumers in Singapore who used at least one credit card, debit card and/or mobile payment method.

    According to the survey, more than half of the respondents have already used at least one form of biometric authentication including fingerprint recognition (88%), facial recognition (56%), iris scanning (50%) and voice recognition (49%). Among the range of biometric solutions, consumers were most familiar with fingerprint recognition, with 51% of them using it regularly.

    Survey results showed one in five Singaporeans currently use fingerprint authentication or facial recognition from their respective banks or mobile phone providers. For those who have not used biometric authentication, 91% stated that they would be likely to use fingerprint or facial recognition authentication from their banks in future.

    More than half (55%) of the respondents agree that the use of biometrics eliminates the need to remember and key in multiple passwords, and PINs, for their respective accounts. Forty one per cent said that biometric authentication is more secure compared to passwords and PINs as they can better confirm individual identities.

    Singaporeans believe that fingerprint recognition is the most desired biometric authentication, followed by eye scanning and facial recognition for both online payment and in-store purchases. For online payment authentication, Singaporeans are keen to use it for large purchases (more than $100) and small purchases (under $100), and transfer of funds to family. The preference is similar for in-store purchases, including using biometric authentication to pay for a meal at the bar or restaurant and buy tickets for transportation.

    Mandy Lamb, Group Country Manager, Regional Southeast Asia for Visa, said, “Singaporeans are early adopters of technology and many of them already have experience with biometrics authentication. With the proliferation of biometric authentication solutions used by mobile providers and banks, Singaporeans recognize the value these new technologies bring to their everyday lives. As the country continues its Smart Nation journey, we believe more people will start to adopt biometric authentication.”

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  • MasterCard deploys biometric verification

    MasterCard deploys biometric verification

    Mastercard has deployed Identity Check Mobile in Europe, a new payment technology application that uses biometrics like fingerprints or facial recognition to verify a cardholder’s identity.

    The technology is now being introduced across 12 markets in Europe including the UK, Germany Austria, Belgium, Czech Republic, Denmark, Finland, Hungary, the Netherlands, Norway, Spain, and Sweden.

    Aimed at simplifying online shopping, the deployment follows a series of successful trials in the Netherlands, the US, and Canada. The technology will be rolled out across the world in phases in 2017.

    The move comes after trials and research discovered European consumers prefer biometric payments to current systems that rely on passwords.

    While existing identity verification methods typically take shoppers away from a retailer’s website or mobile app, where they are often required to remember and enter a password, Mastercard Identity Check Mobile eliminates the need for cardholders to recall passwords, dramatically speeding up the digital checkout experience while also improving security. Instead, cardholders can verify their identities by using the fingerprint scanner on their smartphone or via facial recognition technology by taking a “selfie” photo.

    “We are relentlessly focused on making the online payment experience near frictionless, without making any compromises on safety and security,” said Ajay Bhalla, president of Enterprise Risk & Security, Mastercard.

    “This is a significant milestone in the evolution of payments. Shopping in person has been revolutionized thanks to advances like contactless cards, mobile payments and wearables, and now we are making Identity Check Mobile a reality for online shopping in Europe, and soon, the world.”

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