Biometric payment for all: introducing connected devices for payment

biometric

Natural Security Alliance is pleased to  has announce the launch of two connected devices implementing the Natural Security standard. These devices have been developed for proximity payment projects to enable users to pay with a strictly personal device that was designed specifically for payment transactions and that delivers strong authentication without compromising security or personal data protection.

The Natural Security standard combines biometrics, used to approve transactions, with a personal connected device. These personal devices are provided by two manufacturers, UINT (WIBiMi) and Trust Designer (TeDeGO). They were designed based on open specifications and are currently being evaluated for certification. They exemplify the operational, open nature of the standard.

These new dedicated payment devices satisfy a real consumer need, as was confirmed by a study carried out in December by Axance, which specialises in user experiences.

A natural addition to the lineup of payment methods, these devices answer some of today’s major questions around biometric authentication:

  • How can biometric authentication be made accessible to all users?
  • How can we resolve acceptance issues for merchants and service providers?
  • What should the user experience look like for payment transactions that rely on biometric authentication?
  • How can biometrics be used for proximity payments?

They also make it possible to reach all consumers by expanding beyond the circle of mobile payment users, which is still quite small.

Based on the Natural Security standard, these connected devices enable merchants to implement a single interface for fast strong authentication that can accept multiple payment methods (e.g. digital wallet, EMV). This is particularly critical these days as merchants and service providers contend with a growing number of new payment methods and digital wallets. The multitude of interfaces has a direct impact on the back office, forcing stores to make difficult choices. At the same time, new payment solutions are being positioned farther upstream in the value chain, raising the question of how transaction information should be shared.

The Natural Security standard enables merchants and service providers to rely on a single strong authentication solution for every method of payment.

The simple user experience created by the Natural Security standard—which requires no handling of the payment device and uses biometric traits to approve the operation—makes for quick transactions that can be easily adopted by users. The standard is therefore a solution to the diversity of user experiences that directly impacts merchants and front office personnel by increasing transaction time and eliminating any productivity gains otherwise produced by combining payment with loyalty programms and coupons.

Developed in response to business requirements expressed by retailers and banks, the Natural Security standard resolves challenges around payment transaction time.

2014 marks the dawn of the use of biometrics for payment transactions. Against this backdrop, there has also been a considerable rise in the multitude of different technologies. But isn’t this abundance just the result of closed proprietary technologies spreading? The Natural Security standard, an open standard available to all, is the first element of an evaluation and certification scheme that yields interoperable solutions that meet the needs of all stakeholders.

RECENT ARTICLES

Army’s new next generation squad weapon programme to launch ARC’s weapons intelligence platform

Posted on: August 12, 2022

Washington – Armaments Research Company, Inc, a technology and data company serving national security and public safety customers, announced their Internet-of-Things (IoT) full-stack technology will be introduced in the Next Generation Squad Weapon (NGSW) programme of record, in partnership with Sig Sauer. For the first time in 65 years, the U.S. Army’s initiative will replace

Read more

Connected logistics market to hit $47.6bn valuation by 2029 backed by MaaS for fleet management

Posted on: August 12, 2022

The global connected logistics market stands at a valuation of US$22.2 billion (€21.61 billion) in 2022 and is projected to reach $47.6 billion (€46.34 billion) by the end of 2029. Demand for connected logistics is estimated to increase at a compound annual growth rate (CAGR) of 11.5% over the forecast period (2022-2029).

Read more
FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more
IoT Newsletter

Join the IoT Now online community for FREE, to receive: Exclusive offers for entry to all the IoT events that matter, round the world

Free access to a huge selection of the latest IoT analyst reports and industry whitepapers

The latest IoT news, as it breaks, to your inbox