Will 2015 be the year when mobile payment finally explodes? We were introduced to it in 2014 with technologies like Apple Pay and One Touch, but most consumers still prefer traditional methods of payment.
With the huge security breaches of the past, buyers are often wary of handing out their credit card information. But what about using a fingerprint?
Convenience is always king when it comes to shopping. With so much available at the tip of everyone’s fingers, why not make those fingertips a payment method?
Many online businesses have attempted to ease the minds of consumers by enforcing authentication methods at the point of checkout—often in the form of a password. But the times are shifting. Moving forward with convenience at the forefront, a person’s fingerprints will soon provide ultimate purchasing power.
We’ve seen the technology via Apple and Android. However, it will be integrated in more companies, social media networks, and devices starting this year. With a push toward chip and pin technologies from Europay, MasterCard, and Visa (EMV), stores will be forced to upgrade their payment processing hardware at a faster pace to keep up with the new methods headed their way.
The question remains: Is this new wave of fingerprint authentication safe from hackers? Some are doubtful. In fact, Jan Krissler, a member of Europe’s oldest hacking group called Chaos Computer Club, claimed he was able to copy a fingerprint simply from a high-resolution photograph. Research shows that this type of vulnerability has not yet to be fixed on the latest Apple devices .
With such advancement in technology comes the ever-growing need to bolster security. Are your fingertips ready for 2015?