At a payments technology event recently held in Washington D.C., freshman senator Gary Peters made the case for biometrics as the authentication tool of the future.
“Chip and signature [cards] … are actually behind where the Europeans and others [are], and we’ll probably leapfrog over that technology very rapidly to get into biometrics and other kinds of security measures,”
Mark Nelsen, SVP of risk products and business intelligence at Visa, concurred.
“Biometrics is going to play a bigger role in payments going forward because it can be more convenient and it can be a stronger form of verification,”
Biometrics are far from achieving mass consumer adoption and many questions still need to be answered, but there’s one thing I think everyone can agree on—the U.S. losing to France in any type of comparison is completely unacceptable.
Overview by Alex Johnson, Senior Analyst, Credit Advisory Service at Mercator Advisory Group
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