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Card Company's boosting Payment Security with Mobile
Whoever thought that one day, paying with green paper would be viewed as primitive as a horse and buggy? We seem to be getting closer to that time, especially since the security of making payments via smartphone is always being improved.
One way is with fingerprint scanning. Some smartphones already have this biometric feature. But what about credit cards and biometrics? Visa is currently experimenting with biometrics, but nothing yet has been deployed to the public. Nevertheless, a credit card company trying to develop something with biometrics will likely need to get involved in the smartphone arena.
There will always be the consumers who want to stick to the old-fashioned method of using cash, just like there are always those strange people who insist on buying the kind of stamps that you must lick (or wet with tissue paper) rather than the self-stick ones. But hopefully, credit card companies will cater to both kinds of people amking the new technology stupid simple.
If the credit card companies come out with biometrics tied into the mobile device, it will likely be a fingerprint scanner vs. face or voice recognition, but the fingerprint password will be sufficient security after long term testing.
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