Is biometric security the future of passwords and pins for your devices and transactions? First – it’s important to understand what biometric security is. Biometric security uses physical and behavioural markers to identify authorized users and detect imposters. Physical identifiers include fingerprints, voice and facial recognition, and retina scans. Behavioural identifiers include device usage patterns (location and time), frequency of checking social media accounts, finger movement and gestures, and how a phone is tilted when held.
Furthermore, 86% of Americans prefer using biometrics to secure, identify, and authorize their payments. In fact, 48% of consumers have approved a payment through the use of biometrics through the likes of Apple Pay, Google Pay, Cash App, Venmo, or another payment system. Knowing this information, and enabling the use of biometrics into your checkout system, can provide new avenues in heightening your customer-brand trust.
63% want to use biometrics to authorize payments when shopping in brick-and-mortar stores. In fact, 70% of Americans consider biometric to be easier to use, and 46% believe consider biometric software more secure. While ease of use is a personal preference – biometrics are touch to hack. First off, biometrics are far more time consuming to hack into than your traditional password that’s secret “password.” Secondly, they’re difficult to tap into without setting off firewalls and becoming noticed. Each biometric device is unique, also, as biometric tech isn’t standardized – so hacking into biometrics would mean studying its mechanics – if that information is available. Additionally, creating a fake requires large amounts of user data, which is nearly impossible to subliminally collect.
However, biometric sensors are not invincible to being fooled by a fake user. For example, after a failed Face ID, iPhones ask the user to enter a password. The flaw: if someone knows your passcode, and has similar features, Face ID may eventually identify them as you. Saying this, be on the lookout for twins and lookouts.
Succeeding in using biometric security is not quite simple; however, can be easily done. Know the limits of your biometrics and what exact measures they protect. Furthermore, use 2-step authentication. For example, after the consumer verifies their identity, request a pin or password for tighter security. Or, require 2 physical identifiers to make it harder to spoof. Furthermore, keep an eye on your devices, ensuring to never leave them unlocked or unsupervised. Lastly, be knowledgeable of the tech you purchase and search for the best products within your budget. Look for features that can’t be fooled by a photograph or 3D print, and are equipped with liveness detection and 3D recognition.
Since 2013, when Apple first introduced Touch ID, a fingerprint biometric system, the global market for mobile biometrics has grown over $14 billion. Today, 80% use biometrics to unlock their mobile devices – 68% being iPhone users, 25% being Android, 12% laptop users, and 11% tablet users. Consumers rely on biometrics to keep their finances and information guarded. In fact, 57% of today’s apps feature a biometric login option, but 42% won’t use banking apps that lack biometric authentication. Biometrics can secure your business, and your customer’s information as further explained below.