Payments, Financial Services, and the PKI Fallacy: This Week’s Top Biometrics Stories

Money is top of mind in this week’s roundup of FindBiometrics’ top stories, with three of the most popular articles concerning payments or financial services. But readers also showed strong interest this week in airport biometrics, and in a forceful argument about how authentication should be approached from an industry leader.

The industry leader, FaceTec, was represented by North American Operations VP Jay Meier in a new interview with FindBiometrics. The discussion touches on a number of important topics, but its primary focus is on what Meier calls ‘the PKI Fallacy‘, an approach to identity verification that FaceTec’s leadership feel has some serious drawbacks:

INTERVIEW: FaceTec’s Jay Meier Wants the Identity Industry to Understand ‘the PKI Fallacy’

As for the topic of airport biometrics, it was broached by SITA, which got some attention this week with its argument that in order to recover from the hit delivered by COVID-19, airports must accelerate their digital transformations. That means embracing tech-driven innovations like mobile self-screening apps and facial recognition to enable passenger identification:

SITA Highlights Urgent Need for Digital Transformation in Air Travel

Turning to fiscal matters, Fingerprint Cards got a lot of reader attention this week with survey data indicating that consumers are getting more interested in biometric payment cards. Survey polling was focused on France, and found that 59 percent of respondents were willing to use the kind of fingerprint-scanning payment cards that FPC has been working on with its financial services partners:

FPC Survey Points to Accelerating Biometric Payment Card Market

There was also some news about a biometric payments system that doesn’t even require a card. In Moscow, commuters can now take advantage of a system that lets them pay their subway fares with a simple face scan – a development that has prompted some serious concerns about privacy and surveillance:

Moscow Metro Moves Forward With Launch of Face Pay Naked Payments System

And finally, a guest post from HID Global’s Wladimir Alvarez saw strong, sustained reader interest this week. Alvarez stepped up onto the FindBiometrics platform to draw some attention to the enormous opportunities in the Latin American financial services market – and the serious threat of fraud as criminals have sought to exploit accelerating financial activity online:

How LATAM Banks Can Face Down Fraud Amid Booming Digital Business

Stay tuned to FindBiometrics for the latest news from the exciting world of biometrics. You can also visit our sibling site Mobile ID World to read the latest about digital identity.

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October 23, 2021 – by Alex Perala

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Partners

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