The Biometric payments revolution by Sipay
SipayDigitization and technological advances have led to the creation of new forms of payment. Biometric payments generate a change in the way in which people pay both in physical stores and online. Biometric identification refers to the application of mathematical techniques taking into account the physical and behavioral characteristics of a person in order to verify their identity. But what is biometrics and how is it used in the payments sector?
Biometrics and security
The difficulty in replicating any part of the body makes biometrics a very powerful identification system for the payments sector. Fingerprints, the retina, the voice or even the veins of the hand are some of the patterns that are already used to identify individuals.
Since no two fingerprints or voices are exactly the same, certain parts of the body can be used as personal identification items, which can be very beneficial to increase security and prevent fraud and identity theft.
Some of the most common problems that arise when authenticating the payment is when the user has to remember passwords or access data for multiple accounts. Through biometrics all these obstacles are eliminated, because unlike other security systems, biometric data cannot be stolen or lost because they are part of the individual and nobody can memorize them as happens with keys and passwords.
