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


Money is a priority in this week’s roundup of FindBiometrics’ Top Stories, with three of the most popular articles relating to payments or financial services. But readers have also taken a keen interest this week in airport biometrics and a strong argument for how authentication should be approached by an industry leader.

Industry leader FaceTec was represented by Vice President of North American Operations Jay Meier in a new interview with FindBiometrics. The discussion touches on a number of important topics, but its main focus is what Meier calls’the ICP fallacy‘, an approach to identity verification that FaceTec management believes has serious drawbacks:

INTERVIEW: FaceTec’s Jay Meier Wants Identity Industry To Understand ‘The PKI Error’

As for the subject of airport biometrics, it was addressed by SITA, which gained attention this week with its argument that to recover from the blow from COVID-19, airports need to accelerate their digital transformations. This means adopting technological innovations such as mobile self-screening applications and facial recognition to enable identification of passengers:

SITA highlights the urgent need for digital transformation in air transport

When it comes to tax matters, fingerprint cards have captured a lot of readers’ attention this week with survey data indicating that consumers are increasingly interested in biometric payment cards. The survey focused on France and found that 59% of respondents were willing to use the type of fingerprint-reading payment cards that FPC works with its financial services partners:

FPC survey highlights the acceleration of the biometric payment card market

There was also news about a biometric payment system that doesn’t even require a card. In Moscow, commuters can now take advantage of a system that allows them to pay their metro tickets with a simple facial scan – a development that has raised serious concerns about confidentiality and surveillance:

Moscow metro moves forward with launch of bare Face Pay system

And finally, a guest article by Wladimir Alvarez of HID Global garnered strong and sustained interest from readers this week. Alvarez stepped on the FindBiometrics platform to draw attention to the huge opportunities in the Latin American financial services market – and the serious threat of fraud, as criminals have sought to exploit the acceleration of online financial activity:

How LATAM Banks Can Deal With Fraud In A Growing Digital Commerce

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

23 October 2021 – by Alex Perala

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