Monday, April 30, 2012

Fingerprint Touch & Pay

Biometrics has somehow decreased its boom since the peak relevance gained on security issues; need less to say on terrorism.  We find all types of infringement when it comes to safety and security measures that there are always new introduction of technological developments to mitigate such high risk.   However, technology in this respect, instead of simplifying our lives, they become literally a burden to carry on us, whether it is the in the form of passwords in our memory, physically carrying more cards or articles in our pockets, or both.  The problem is that when it involves more articles, at the same time we find to have the need to safeguard them in another place, e.g. a safe box that will have again a password and/or a key.
Biometrics could gain again more importance to effectively solve this problem.  It has placed and showed its uses of authentication applicable to a commercially viable technology.  Perhaps not the best example for its closure, but Pay By Touch, a company founded in 2002 and liquidated in 2008, was one of the pioneers specialized in the use of biometrics to pay at a store.
Regardless of its outcome, its assets were acquired by the name of AllTrust Networks, which has driven its business to the payment security sector as well.
They have so far developed a network using their systems for payment verification.
The point in question now comes to why there are not more that many companies emerge towards this business opportunity?  It actually involves other industries including a powerful one (banks), which will be present in every transaction.  Is it perhaps that the problem relies in the adoption of us as customers knowing that our identities can be revealed furthermore?  Maybe it is a facet that we are not willing to give up, no matter how easier and “safer” it would make our world, knowing that I would not trust my biological traits to a third party for commercial uses.

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