PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

From 1 to 2 or More Factor Authentication Methods, and Now Back to 1?

By Tim Sloane
August 6, 2021
in Analysts Coverage, Authentication, Biometrics, Emerging Payments, Fraud & Security, Security
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
From 1 to 2 or More Factor Authentication Methods, and Now Back to 1?

From 1 to 2 or More Factor Authentication Methods, and Now Back to 1?

Suggesting that biometrics are safe when used in a multifactor authentication procedure is one thing, suggesting you can do away with the other factors doesn’t seem wise, especially without understanding what the reliability ratings are for the biometric in question (false rejection and false acceptance rates).

There is also a lack of detail regarding where the biometric data is stored and how it is secured. All that and also no details regarding issuers that support a solution that promises to reduce their payment-related revenue:

“Fortress Identity has unveiled a new biometric payments solution that would allow customers to verify transactions through face or voice recognition. The FortressPAY platform is not yet widely available, but the company is allowing interested parties to get in on the ground floor with an early bird sign-up program.

Fortress Identity Opens Sign-ups for New Biometric Payment System

In its announcement, Fortress suggested that FortressPay will have lower transaction fees than other payment platforms. The company said that it can offer better rates to merchants because of its use of secure biometric technology, which mitigates the number (and cost) of fraudulent transactions. It also gives both parties a higher level of confidence in each interaction. According to Fortress, the payments platform will enable a frictionless one-step checkout process for those making purchases through the web and on mobile devices.

In other news, Fortress released updated versions of its Fortress ID and FortressBA solutions. Fortress ID is a document verification service that allows organizations to confirm the authenticity of a government ID through the web, while FortressBA is a biometric authentication platform with face and voice recognition capabilities. Both solutions help companies meet their Anti-Money Laundering and Know-Your-Customer obligations.”

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: AuthenticationBiometricsFortress IdentityPaymentsSecurity

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    cross-border payments

    Solving for Fraud in Cross-Border Payments Requires Better Counterparty Verification

    February 12, 2026
    agentic commerce

    Demystifying the Agentic Commerce Enigma

    February 11, 2026
    payment gateways

    How Payment Gateways for Businesses Can Help You Offer Your Customers More Options

    February 10, 2026
    Reserve Bank of India (RBI) Extends Mandate for Tokenization to June '22

    Late Payments? Governments Are Taking Action

    February 9, 2026
    ai phishing

    The Fraud Epidemic Is Testing the Limits of Cybersecurity

    February 6, 2026
    stablecoins b2b payments

    Stablecoins and the Future of B2B Payments: Faster, Cheaper, Better

    February 5, 2026
    Payment Facilitator

    The Payment Facilitator Model as a Growth Strategy for ISVs

    February 4, 2026
    Simplifying Payment Processing? Payment Orchestration Can Help , multi-acquiring merchants

    Multi-Acquiring Is the New Standard—Are Merchants Ready?

    February 3, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result