Use of Biometric Technology in Payments to avoid Frauds SAVITA NIKAM, CONSULTANT MASTERCARD

What’s biometrics Types and ways of biometrics Biometric circuit and implementation Current challenges and frauds in payments Biometric flow in payment domains Benefits of using biometric in payment and another domain Challenges of biometric usage Security issues related biometric and solution Future Trend Conclusion

Payment fraud is characterized in three ways: Fraudulent or unauthorized transactions Lost or stolen merchandise False requests for a refund, return or bounced checks   Types of fraud: -Phishing -Identity theft -Pagejacking  -Advanced fee and wire transfer scams -Merchant identity fraud Ways that fraud can happen: Email Texting malware to smartphones Instant messaging Rerouting traffic to fraudulent websites Phone calls Online auctions

Payment Technology companies are coming with biometric card, combining chip technology with fingerprints to conveniently and safely verify the cardholder’s identity for in-store purchases. Selfie Pay Mobile biometric authentication app Authenticating a payment transaction biometrical confirms in a very unique way that person is genuine, the technology helps detect and prevent frauds. The biometrics market continues to mature. Enhanced security of the end user and speedy transactions are making it more popular gateway nowadays

Savita has done graduation from Pune University and has 15 years’ experience in IT industry. She has worked for various domains including retail, airline, IAM, banking, finance, insurance, payment. She is an automation testing expert and having knowledge and hands on many technologies like java, selenium, different databases, Microsoft technologies and open source technologies. She is working as a Practice lead for automation, best practices and processes at mastercard. She has worked on biometric projects and has submitted patentable ideas on biometric area. Author Biography

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