Biometric security in online payments

The authentication of debit and credit card users could change by 2019 with the new security rules of the European Union

With the aim of reducing the amount of online fraud, the European Union will establish in 2019 new security measures regarding payments. The implementation will be done through the concept Strong Consumer Authentication (SCA) as part of the Payments Service Directive 2 (PSD2) legislation.

Currently, the holders of credit and debit cards are handled with passwords for system entry, payments and other transactions. According to Ajay Bhalla, president of MasterCard Global Enterprise Risk and Security, this system is obsolete and in 2019 will be out of use.

It is appropriate to mention two Mastercard initiatives as substitutes for current passwords and keywords. This is Identity Check and a biometric payment card, which have already been tested in different countries but limited to retailers.

On security proposals based on biometrics, experts say that this technology is not inviolable. There have been cases of hacking of facial recognition and fingerprint control systems.

That is why security based on this technology must be improved in order to offer the highest standards of protection to customers. Particularly in view of the increase in the number of users who use mobile devices to carry out their transactions.


Source: Enterprise Times

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