Billions of people are now using smartphones, even in the most remote areas of the planet. Global adoption of these new mobile technologies opens up the discussion for more advanced methods of identification, authentication, and verification, especially when it comes to protecting against fraud, identity theft and financial crime. One of these promising new technologies, available to end users as a result of the acceptance of mobile devices such as mobile phones, tablets, and laptops, is biometrics.
Biometrics look promising when it comes to simplifying the processing, authentication, and confirmation of transactions in general, but more importantly when it comes to payments. Technological advances, along with pattern recognition and multi-factor biometrics, are expected to tackle cybercrime by making it very expensive and time-consuming for cybercriminals to attempt to target these systems.
