LG U+ is to release a new service in August that uses biometric authentication for mobile shopping and banking transactions based on the storage of “personal biometric information in universal subscriber identity modules (USIMs),” according to Business Korea. “The platform is to be used for combination of users’ biometric information, such as fingerprint data and iris data, with the mobile carrier’s subscriber and billing information so that one-stop authentication can become possible,” the publication reports. The service will make use of Fido standards.
- eMarketer: Mobile payments adoption held back by ‘strong contactless card usage’ in Europe
- Korean card companies to launch joint NFC payments service in bid to combat Chinese QR threat
- Wells Fargo puts AI into mobile app to help customers manage their money
- Apple CEO: Mobile payments taking off more slowly than expected
- Microsoft sets out vision for a blockchain-based infrastructure that lets consumers manage their own digital identities