Google has released a developer preview of its Android 14 update that includes support for a credential manager API that allows app developers to simplify the sign-in interface and authentication process for end-users by aggregating multiple sign-in options... More
Nearly nine in ten consumers worldwide have made digital payments using digital wallets, contactless, QR codes, buy now pay later, money transfer apps, cryptocurrencies, biometrics and other digital payment technologies (85%) and more than six in ten say they have increased their usage of at least one digital payment method (61%) in the last 12 months, according to a Mastercard survey... More
The Central Bank of The Bahamas has extended its central bank digital currency pilot to the island of Abaco and revealed that the new Sand Dollar currency will include support for offline functionality... More
Consumers reluctant to swap passwords for biometrics for fear of identity fraud — Paysafe Group — “Over half of consumers (56%) are worried that the shift to biometrics to authenticate online payments will dramatically increase the amount of identity fraud, according to new research conducted by Paysafe… The research found that four fifths (81%) of consumers still favour passwords for making payments online due to concerns about the security of new biometric options.”
The UK’s NatWest bank has launched a new service that will let consumers pay online merchants directly from their bank accounts, “saving merchants at least 25% of card processing costs”... More
Sberbank and Azbuka Vkusa perfect fingerprint payment service — Sberbank — “After the quick registration process, which takes place at a checkout, clients tie two fingerprints to a Visa or Mastercard bank card and confirm the registration by coming up with a password. Payments can then be made at all stores with biometric POS terminals by scanning a fingerprint and confirming the transaction with the password. It is not necessary to use a bank card or a smartphone… The service is already available at 20 Azbuka Vkusa supermarkets, and will be added to more locations soon.”
HID Global unites high security authentication and convenience with its Crescendo Mobile smart card — HID Global — PARTNER NEWS — “The HID Crescendo Mobile solution provides organizations seeking to eliminate passwords with a solution that combines the high security of physical authenticators with the usability of a mobile solution. Crescendo Mobile works similarly to, and is compatible with, highly secure Crescendo smart cards; however, rather than inserting a separate device into a contact smart card reader, it connects to a desktop computer via an NFC (near field communication) reader or Bluetooth.”
Security key maker Yubico has introduced a new range of hardware keys that support Fido2 passwordless authentication, including a version which offers NFC for “touch based authentication for NFC supported Android and iOS devices and applications.” ... More
iPhone X owners will soon be able to use Face ID to approve family purchases — The Verge — “In iOS 11.3, purchase approvals on a parent’s device can be done through Face ID, after a one-time request to enter their password. Previously, iPhone X owners found the Ask to Buy iOS feature that allows parents to control what children buy with their phone didn’t work with Face ID. Parents had to enter their passwords manually for every purchase, to the chagrin of many customers.”
IBM Future of Identity study: Millennials poised to disrupt authentication landscape — IBM — “Security was vastly ranked as the top priority for banking, investing, and budgeting apps — for these categories on average 70% selected security as the top priority, with 16% selecting privacy, and 14% selecting convenience… 44% ranked fingerprint biometrics as one of the most secure methods of authentication; passwords and PINs were seen as less secure (27% and 12% respectively).”
Biometric identification must be made available for all Mastercard users by April 2019 — Mastercard — “All consumers will be able to identify themselves with biometrics such as fingerprints or facial recognition, when they shop and pay with Mastercard by April next year… Banks issuing Mastercard-branded cards will have to be able to offer biometric authentication for remote transactions, alongside existing PIN and password verification. It will also apply to all contactless transactions made at terminals with a mobile device.”
Visa survey reveals consumers are ready to say goodbye to passwords — Visa — “Seventy percent of respondents find biometrics easier than passwords and 61% consider it faster. Fewer than a third of consumers use unique passwords for each of their accounts. Fifty percent of consumers responded that the top benefit of using biometrics is eliminating the need to remember multiple passwords or PINs, followed by 46% who said that biometrics is more secure than passwords or PINs for verifying identity.”
Samsung’s new phones might literally read the palm of your hand — Futurism — “Recent patent filings by the South Korean electronics giant show that the company may be investing in yet another means of biometric scanning. Samsung’s palm recognition technology would join other biometrics, such as facial recognition and fingerprint scanning, along with standard passwords, pin numbers, and patterns as a means of securing your device.”
Payment Services Directive (PSD2): Regulatory Technical Standards (RTS) enabling consumers to benefit from safer and more innovative electronic payments — European Commission — “The RTS makes strong customer authentication (SCA) the basis for accessing one’s payment account, as well as for making payments online. This means that to prove their identity users will have to provide at least two separate elements out of these three: something they know (a password or PIN code); something they own (a card, a mobile phone); and something they are (biometrics, eg fingerprint or iris scan)… The use of SCA will become mandatory 18 months after the entry into force of the RTS, ie once the RTS is published in the Official Journal of the EU, scheduled for September 2019.”
Just one password? Swiss groups plan single online identity — Reuters — “Swiss consumers will be able to use a single digital identity to buy online products and services under a project unveiled on Tuesday by nine big companies. The aim is to let people use just one login profile to order in shops, buy train tickets or do banking transactions, according to the consortium… It includes UBS, Credit Suisse, Swisscom, Swiss Post, stock exchange operator Six, Raiffeisen, Swiss Railways, Zuercher Kantonalbank and insurer Mobiliar.”
A biometric ring could replace your passwords, cards and keys — Engadget — “With a fingerprint sensor on the inside, it can confirm that you’re the authorized user. Then, you slide on the ring, and an onboard IR optical sensor makes sure the device is still on your finger. As long as you have not taken it off, you can authorize transactions with a tap of your hand… Token transmits the authentication signal over NFC in most situations.”
Mobile biometrics in financial services: A five factor framework — University of Oxford — “Overall, users believe that biometric authentication is more secure (83%) and more convenient (92%) than passwords. Fingerprint recognition obtained marginally better results compared to face recognition, for both security and convenience.”
Rise of the technophobe – education key to tech adoption, says HSBC — HSBC — “The study of more than 12,000 people in 11 countries reveals four in every five people (80%) believe that technology makes their lives easier but less than half (46%) trust fingerprint recognition to replace their password, despite it being recognised to be at least five times more secure and significantly more convenient than traditional passwords.”
PARTNER NEWS: Rambus is working with Google and Canada’s Interac Association to enable support for Interac debit cards on Android Pay following its launch in the country earlier this month... More
Using your gait to power and secure devices — CSIRO — “Researchers from CSIRO’s Data61 have developed new technology which uses the way a person walks, their gait, to power wearable devices. The technology also has the potential to be used as a new authentication method, which could replace passwords, PINs or fingerprints.”