• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

IDEX CEO Explains How Biometric Payment Cards Will Make Banking More Inclusive

January 24, 2019

IDEX CEO Explains How Biometric Payment Cards Will Make Banking More Inclusive

Most prognosticators expect biometric payment cards to be one of the fundamental building blocks of the future economy. IDEX Biometrics is well positioned as a key player in that field, unveiling its latest payment card at APSCA Digital Commerce Asia Pacific in Kuala Lumpur.

Now, IDEX is trying to demystify its new technology with a blog series on Biometrics for Financial Inclusion. In his latest post, IDEX CEO Stan Swearingen explains that fingerprint-based biometric payment cards will catch on because they are both faster and more secure than current PIN-based banking options.

“The user needs to simply place their finger on the smart card and the sensor identifies them as the unique customer,” writes Swearingen. “This means, every time a customer wants to make transactions or shop, they don’t need to use a four-digit PIN which is highly susceptible to hacking.” 

Biometric payment cards allow financial institutions to verify the identity of individuals, even in the absence of the other, more traditional forms of identification that many banks currently expect. That, in turn, will grant more people safe, secure access to banking services and reduce the number of steps needed for a typical transaction.

Swearingen also reports that IDEX’s pilot programs in Asia, Africa, and Europe have seen “high customer engagement,” adding that this will help to encourage greater enrollments and bring financial services within reach to more of the unbanked.

–

January 23, 2019 – By Eric Weiss

Related News

  • IDEX On Track for Q4 Pilots, 2019 ‘Volume Deliveries’ in Q3 UpdateIDEX On Track for Q4 Pilots, 2019 ‘Volume Deliveries’ in Q3 Update
  • Chutian Dragon Licenses IDEX’s Remote Enrollment Solution for Biometric CardsChutian Dragon Licenses IDEX’s Remote Enrollment Solution for Biometric Cards
  • IDEX to License Biometric Smart Card Enrollment Tech to IDEMIAIDEX to License Biometric Smart Card Enrollment Tech to IDEMIA
  • IDEX Biometrics Bolsters Roster of Asian Card PartnersIDEX Biometrics Bolsters Roster of Asian Card Partners
  • Biometric Card From IDEX and Hengbao Showcased at Digital China SummitBiometric Card From IDEX and Hengbao Showcased at Digital China Summit
  • IDEX Granted US Patents for Biometric Card Enrollment MethodIDEX Granted US Patents for Biometric Card Enrollment Method

Filed Under: News Tagged With: Biometric, biometric authentication, biometric cards, biometric payment cards, biometrics, fingerprint recognition, fingerprint scanning cards, fingerprint scanning payment cards, IDEX

Primary Sidebar

Identity is Shaping Air Travel – Time to Invest

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • Lawsuits, Passkeys, and a New VP: Identity News Digest
  • Digital Identity Tech Demo Online Event
  • Biometric Ticketing Comes to Osaka Station: Identity News Digest
  • TikTok, Robots, and a $10 Facial Recognition Device: Identity News Digest
  • Register for the Digital Identity Tech Demo Online Event

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics