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.
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.
The enhanced Fortress ID introduces better backend integration and data aggregation features, and also improves the platform’s transaction dashboard, alerting, and case reporting utilities. The new FortressBA, meanwhile, will boost the performance of its Passive Facial Liveness feature, which initially debuted in July of 2020.
Fortress is hoping that the updates will help drive the company’s US and Latin American expansion through to the end of 2021. The company also offers identity verification and authentication services to customers in Europe.
This is not Fortress’ first foray into the realm of biometric payments. The company’s technology previously appeared in Muxi’s muxiPAY naked payments scheme back in 2019.
August 5, 2021 – by Eric Weiss