Will Biometric Devices eventually replace Credit Cards?

In the last 30 years, people have experienced many initiatives in terms of biometric authentication whose existence can also be seen while authenticating digital payments via credit cards or in offices as a Biometric attendance system. Though their role play remains minor due to the dominance of passwords and signatures, the situation is likely going to change in few next years. We can already see its emerging use of mobile devices for unlocking cell phones to confirm actions.

The biometric factors include fingerprints or other physical factors such as face recognition. Your applied pin or passwords may go incorrect at times, but this won’t be the case with a biometric scan, i.e., usually of fingerprints. Once the authentication matches, you are allowed to proceed for the next. Meanwhile, biometric devices would require a lot of investment for setting up new technologies, including face camera, fingerprint, or iris scanner. The investment could be high for merchants, but it lowers the number of fraud cases while increasing the uniform user experience by eliminating the usage of passwords and signs. It would be having a high probability as the world has already stepped forward in the area of digitalization and making online payments via their smartphones due to the convenience without incurring may extra cost. Some companies like Master card has already initiated with biometrics for payment functionality by harnessing innovation. The other good factor is it would eliminate the usage of the card by providing a direct link to the payment account. This also reduces the time taken to complete an average transaction and remembrance of the PIN.

People have already experienced the encouraging initiative of biometric authentication by governments during the registration of Aadhar card; however, the world is not in urgent need of it as there are still some hurdles to be crossed. The danger of cybercrime still exists due to the chance of stolen biometric in multiple devices. It also depends majorly on the storage place of your biometric. According to a survey, most consumers are likely to trust their bank and card networks in terms of biometric security system, which gradually increases the chance of credit cards to get replaced.

When it comes to biometric devices manufacturer, Star Link Communications Pvt. Ltd. emerges as a leader. Being in the industry for more than two decades, we surely know how to create biometric devices that take your security to the next level.