What Are Biometric Payments? Biometric information is the set of all those biological and physical characteristics that make each person different and allow them to be identified and differentiated from others, such as facial recognition, fingerprint, or voice recognition.
Biometric payment is a method that uses these non-transferable personal characteristics to access, for example, your bank’s app or authorize payments and transactions. Thanks to this form of payment, this type of transfer can be made by smiling at a camera, waving your hand, or staring at a reader.
The Advantages Of Biometric Payment
According to experts, this new system, which is already present in payments, has several advantages, among which are: security and convenience.
Because biometric payments use the personal characteristics of each individual, this makes it more secure when making a transaction. So big tech companies are working to use biometrics to increase the security of payments and prevent identity theft and digital fraud.
Like other technological advances, biometric payments are intended to make our lives easier. With this form of payment, we would not need to carry cash or a physical credit card since our characteristics will allow us to authorize the income from our digital wallet.
This technology is already used in mobile phones and other intelligent devices that allow, by adding the bank card, to make payments through purchase authorization with biometric methods. The most common at the moment is fingerprint and facial recognition, which are used in most smartphones. Voice recognition or iris reading are alternatives with greater security but less use due to their complex implementation.
How Do Biometric Payments Work?
This payment system has two variants—the first work in a hybrid way, using traditional techniques such as cards and biometric data. The second is based entirely on the person’s biometric information to carry out a transaction efficiently.
Let’s see what each of them consists of:
The first is the most used today due to its simplicity. The customer must register the card on his mobile device, and each time he wishes to make a payment, he will authorize the transaction on the device using either his fingerprint or facial identifier.
The second system still needs to be present, Since it requires that the establishment have biometric technology. And the client must have registered their biometric data with those of the bank card.
For the process, an electronic device is necessary that works as a reader or scanner in charge of collecting the data. Using a database, the software then digitizes the scanned information and establishes match points. This stores the biometric information to compare the data obtained and proceed with the payment.