On-card biometrics is the final piece of the puzzle to bring trust and security to contactless payments without compromising convenience, writes Lina Andolf-Orup, global product marketing manager at Fingerprints.
Sometimes an idea is ahead of its time. Many of the most ambitious products in payments and fintech were dismissed as absurd or over-ambitious at the time — only to feel perfectly normal years later as culture and consumer habits evolved.
Patience could be wearing thin for those awaiting action from the card networks' emerging fraud-prevention protocol known as 3-D Secure 2.0. But after many delays, the technology appears to be awakening from hibernation.
Rather than searching for a "silver bullet" and relying on a single line of defense, FIs and merchants should adopt a layered model combining different approaches and technologies, writes Elina Mattila, executive director at Mobey Forum.
Mobile wallets blend together, going so far as to share the same branding pattern — Apple Pay, Android Pay, Samsung Pay, Walmart Pay, etc. — but a few companies are going against conventional wisdom with their own products.