TRUSTECH Panel Highlights Opportunities and Challenges in Biometric Payment Card Market

“Of course, there are still obstacles that need to be overcome. Biometric enrollment, for example, needs to be easy for the consumer…”

Major players in the biometrics industry should cooperate more to help drive consumer adoption of biometric payment cards: That’s one of the key takeaways from a panel discussion on the technology at this week’s TRUSTECH expo and conference in Cannes.TRUSTECH Panel Highlights Opportunities and Challenges in Biometric Payment Card Market

It was a point agreed upon by all present – Precise Biometrics COO Patrik Lindeberg, Fingerprint Cards Director of Business Development Jonas Andersson, and executives from Zwipe and Sthaler. Likewise, the participants also agreed about the great potential in this emerging market, with Precise Biometrics’ Lindeberg predicting that “the tipping point will be when fingerprint smart cards support contactless interaction with point of sales terminals.” And that tipping point should come soon, with Precise Biometrics’ algorithm software being used in pioneering contactless biometric payment cards from AirPlus, which use Fingerprint Cards sensors.

Of course, there are still obstacles that need to be overcome. Biometric enrollment, for example, needs to be easy for the consumer, Lindeberg argued; and again this is one area where solutions are starting to emerge. Meanwhile, liveness detection will be increasingly important for preventing fraud as biometric payment cards start to catch on, Lindeberg added.

The need to overcome these challenges is perhaps one reason that all of the panelists agreed on the need for more cooperation in driving mass adoption of this new technology; in any case, given the market opportunities that are emerging with biometric payment cards, these are challenges that the major players seem very likely to overcome.

Source: Precise Biometrics