Biometric payment apps simplify the process of paying for the products you purchase. These methods revolutionize our lives by enabling transactions through our mobile phones.
However, one of the challenges we face is achieving security on these platforms. At Insiderbits, we will show you three apps that will facilitate all your transaction processes. Don’t miss it!
How biometric payment apps work?
Biometric payment apps are different from the others They use biological traits to verify a person’s identity before processing a payment. This transaction type relies on physical features such as fingerprints and facial or voice recognition.
These techniques provide a safer way to process transactions, since biometric data is difficult to replicate. This technology is becoming increasingly used in various industries.
The global market for this technology is expected to grow even more. For now, we will introduceyou to three platforms that enhance security and reduce fraud.
Apple Pay-Biometric payment app for iPhone
Apple Pay est un mobile payment service integrated into the Apple Wallet. It has a secure and private payment method. To use it, just follow these steps:
- Open the Wallet app on your device;
- Load the card you want to use;
- Once you add the card, you can pay anywhere that accepts contactless payments.
- Hold your device over a card reader to use this system.
Place your fingerprint, and that’s it! You can make transactions with a glance, if you have an iPhone with a Face ID or Touch ID.
With this platform, you don’t have to worry—it is fully secure. It does not store your card number. Instead, it assigns a unique token to each purchase.
Google Wallet
Google Wallet is an app available on the Google Play Store. It works as a secure digital wallet that lets you store all your cards in one place. Some of its features are as follows:
- You can import cards, transit passes, and other items saved in Gmail;
- It can suggest what you need at the right time;
- Get up-to-date information about flight delays;
- Your data is protected by Android security features;
- It lets you quickly access your daily essentials;
- It sends you a notification of your boarding pass on the day of travel, so you don’t have to search for it in your bag;
- It integrates seamlessly across Google’s various platforms;
- It keeps your calendar and assistant updated with the latest information.
It has a seamless setup process and user-friendly privacy controls. It’s also designed to protect your privacy and essential information.
Comment l'utiliser ?
To use it, download the app and follow the setup instructions. After installing it, you can access it directly from the lock screen. To use contactless payments, make sure the NFC function is turned on and set Google Pay as your default payment.
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PayPal – The biometric payment app for excellence
PayPal is another biometric payment app that we want to introduce to you. It lets you make transactions and send or receive money without sharing banking details.
PayPal is one of the most popular biometric payment apps worldwide. You can charge for your products or services.
Since this platform stores all your data, you do not need to re-enter for every transaction. This is made possible by secure encryption and its anti-fraud system.
The only data you will need to complete is an email and a password. This way, it becomes a fast and efficient system to send and receive money. There are also three types of accounts depending on your needs:
- Personal Account: ideal for online purchases and receive deposits;
- Premier Account: designed for selling products online with reduced rates and making transactions for free.
Finally, there is the Business Account. This especially useful if for business users, since it has additional features and faster technical support for resolving issues.
Comment l'utiliser ?
To use PayPal, you must create an account by entering your name, surname, email, password, and country of residence, then confirm your account. Next, verify your email by clicking the link sent to you.
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Advantages and disadvantages of biometric payment apps
Apple Pay, Google Wallet, and PayPal are all funds transfer services with distinct features.
Apple Pay
Avantages
- It uses unique encrypted codes;
- It assigns a unique device number for each purchase;
- Card data is not stored on Apple servers;
- Transactions are quick;
- It does not store transaction data that could identify you;
- It uses encryption, tokenization, and authentication;
- It works anywhere and supports contactless payments.
Inconvénients
- Not accepted by all merchants;
- You may need to carry a physical card as a backup;
- Not all banks or card issuers are supported;
- Facial recognition may not be reliable;
- The setup process can be complex;
- It may have technical issues.
Google Wallet
Avantages
- It has safeguard and privacy controls;
- It supports contactless payments;
- It allows you to access the boarding pass at the right time;
- You can add membership cards to earn points and get discounts;
- It is compatible with other apps.
Inconvénients
- Not accepted by all merchants;
- Not all banks are supported by Google Wallet.
Paypal
Avantages
- The account opening process is simple;
- The interface is easy to set up and user-friendly;
- It has free accounts, with the possibility of sending and receiving money without fees;
- You can pay to a PayPal account without registering;
- It uses data encryption and fraud prevention system to protect users.
Inconvénients
- You need a verified account for large money transfers;
- Some transactions incur fees;
- Customer service is not good.
Why are biometric payment apps the future of transactions?
Biometric payment apps are the future of transactions due to the difficulty of stealing or replicating biometric data. These systems help reduce the risk of identity theft and fraudulent transactions. The advantages of using these systems are the following:
- The user experience has been improved;
- It optimizes data security;
- It reduces fraud;
- There is greater convenience and privacy;
- Transaction times are faster;
- It reduces administrative expenses and transaction costs;
- It is more accessible.
Finally, these systems offer a range of solutions available. Shielded digital funds transfer processes are now easier than ever, helping to improve financial inclusion.
Leading biometric payment apps for funds transfer processes
There is no doubt about it! Biometrics is here to stay. They streamline procedures and allow for faster remittance processes. Among the most notable platforms are the following:
- Aware: it is an app that offers facial authentication features, such as Face Authentication Service and Facial Analysis Service;
- Infineon: the platform provides encrypted elements and biometric technologies for fast and secure transactions. It also has contactless payment cards with biometric identification;
- Bizum stores information about fingerprints or facial features on a chip isolated from the rest of the device’s hardware;
- Mobbeel: il brings biometric technology to your fingertips, simplifying remittances, online purchases, and retail stores in the banking sector;
- Stripe: il provides biometric payments based on unique physical or behavioral traits.
Finally, we have NTT DATA Payment Services. This platform provides remittance solutions for companies and merchants. It offers online payment gateways, QR codes, Interactive Voice Response (IVR), and mobile software.
Continuous innovation
Biometric payment apps are redefining secure digital transactions. They are undoubtedly playing a crucial role in protecting our information. Their emergence has helped people complete clearing processes without having physical cash.
There are no identical fingerprints or irises with the exact same pattern. Therefore, biometric data is one of the safest forms of authentication. We hope you liked our article! If you want to read another interesting one on Insiderbits, check out our piece on Okta Verify, which is the key to safer logins. Ne manquez pas cette occasion !
