Page 64 - Pay Magazine s2014

finance & strategy
The Future of Biometrics
to PINs and passwords, enables consumers with iPhones or Android smartphones to gain access to their accounts and issue payments via the bank’s mobile app (consumers with certain iPhones also can use ngerprint scans for those tasks). More than100,000 ING Netherland customers already use the technol- ogy, according to the bank.
Potential dePloyments
Mobile authentication for bank- ing and retail consumers, and in-person veri cation of govern- ment payments.
oPPortunities
Every voice has its own speci c qualities, making it suitable as a unique and secure password. And consumers are already well trained to use their voices for online searches via their smartphones.
downsides
Language is far more complicated than ngerprint or facial patterns.
iris recognition/ retinal scanning
How it works
For iris scanning, software analyzes the patterns of a person’s iris; for
a retinal scan, the identifying mark is the retinal blood vessels.
selected examPle
Samsung will include an iris scanner in an upcoming smartphone.
examPle of Payments use
To use the Samsung technology, consumers would hold the phones 10 to 14 inches from their eyes and look at two circles on the screen. The technology would work more quickly than nger- print scans, already used on Apple and Android devices,
as well as Samsung phones.
Potential dePloyments
Though biometrics derived from eyes is being used more often for such tasks as government security and airport security checks than for payments, experts foresee consumers using their eyes to withdraw cash, access accounts and perform transactions.
oPPortunities
Eyes are relatively well protected, meaning, for instance, that sus- tained manual labor will not degrade the biometrics as would be the case for ngerprints.
downsides
Enrollment and scanning for iris and retina biometrics can be relatively cumbersome, and some experts have worried that commer- cial iris scanners might be fooled by high-quality image copies.
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