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Biometrics in the News: MasterCard Plans for Transaction Implementation in 2019

Their sole reliance on unique biological characteristics makes these systems one of the strongest security measures available because of how difficult it is to infiltrate them.

In the past decade, biometrics have emerged as an advanced security measure for mobile devices, home security, and network security in office systems. Now, as we enter 2018, they are on the forefront of the finance industry, as MasterCard announces their plans to implement biometrics for in-store transactions starting in 2019. If you are not yet familiar with biometrics as a security measure, now is the time to become acquainted with the idea.

Biometrics 101

Biometrics, in the world of security, are measures of authentication for accessing facilities, networks, or transaction processes. This particular form of security requires physical attributes of the individual in order to authenticate and grant access to a particular place or means of information. One particularly well known form of biometrics is fingerprinting, as the biological characteristics of the person match the required one in order to gain access to the device, facility, or system. Their sole reliance on unique biological characteristics makes these systems one of the strongest security measures available because of how difficult it is to infiltrate them.

Biometrics in the Banks

This conversion of MasterCard security to biometrics is said to be inspired by tech giants such as Apple and their use of fingerprint verification for device access. However, this transition far from being contained to MasterCard only, as it will now span to banks who permit and issue MasterCard to meet these standards. This ripple effect of biometrics is sure to continue and grow, as it’s success proves it to be one of the most effective security measures available for businesses across the board.

Reception of Biometrics by the Public

In their collaborative research with Mastercard, a survey conducted by Oxford University shows that 93 percent of consumers prefer biometrics over passwords for authenticating payments. Additionally, it highlighted the way in which 92 percent of banking professionals are inclined to prefer the transition to biometric solutions as well. While a part of these conclusions may simply be derived in a need for convenience, there is no question that biometrics provide a higher standard of security for these transactions, giving peace of mind to clients and professionals within the industry alike.

Biometric Solutions From ARK Systems

Located in Columbia, Maryland, ARK Systems provides unsurpassed quality and excellence in the security industry, from system design all the way through to installation. We handle all aspects of security with local and remote locations. With over 30 years in the industry, ARK Systems is an experienced security contractor. Trust ARK to handle your most sensitive data storage, surveillance, and security solutions.

Contact ARK Systems at 1-800-995-0189 or click here today. Check us out on Facebook and Twitter as well!

This entry was posted on Thursday, February 1st, 2018 at 10:40 am. Both comments and pings are currently closed.

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