The Role Of Biometric Authentication In Securing Digital Transactions

November 29, 2024 (Investorideas.com Newswire) Biometric authentication has become commonplace for many of us. While it was initially reserved for quick cell phone access, its use has expanded to include secure payments and website access. Digital wallets and mobile payment systems commonly use it in place of pins and passwords because biometric data is more unique than short strings of characters, while scanning a fingerprint or facial features is also more convenient.

Digital Transactions

1.3 trillion non-cash payments are made every year. While a good portion of these payments are made on credit or bank cards, the number of digital payments has increased considerably. As well as being used to replace credit and bank card payments, digital transactions are popular online because of their convenience and security.

For example, some of the highest paying casino sites use 2-factor authentication combined with digital wallets, while an increasing number of iGaming sites now accept cryptocurrency payments. These casino sites not only offer high levels of security but the reduced costs of some digital payment methods can also yield bigger jackpots and higher payouts.

What is Biometric Authentication?

Digital transactions don't just benefit the retailer, either. Users can enjoy convenience and speed as well as high levels of security, especially when using two-factor authentication and biometric authentication.

Payment authentication is the secure confirmation of a payment request. Traditionally, this would require the individual user to enter a PIN or password. Biometric authentication uses biometric data instead. The most common forms of biometric data used are fingerprints or thumbprints and facial recognition. Other options include voice recognition and retinal scanning.  

Fingerprints And Thumbprints

Strictly speaking, fingerprints aren't completely unique. There is a 1 in 64 billion chance of two people sharing the same fingerprint, but it is estimated that it would take approximately a million years for two people sharing the same fingerprint to show up as a match in a fingerprint database.

They are certainly more unique than four-digit PINs, of which there are only 10,000 combinations, although less unique than a 12-character password with more than 5 quadrillion possible combinations. However, replications aren't the only security threat. Brute attacks and physical fingerprint hacking are possible. However, fingerprints are considered more secure than passwords and other typical security measures.

Facial Recognition

Facial recognition uses up to 80 different nodes on the face. Not only does it look at each one individual but also the relationship between the nodes. It is not considered as secure or reliable as fingerprint or thumbprint scanning, however, and is often only used for secure mobile device access. Banking and digital wallet payment apps may still require the use of a fingerprint as biometric data.

Uses For Biometric Authentication

Biometric authentication is considered more secure than the use of pins and passwords. It is commonly used to access mobile phones, and banking and payment apps use the phone's biometric protocols to confirm data. Biometric passports use facial recognition technology and fingerprint recognition to enable faster passport control and border measures. And, some high-tech, ultra-secure facilities also use forms of biometric security. Individuals can now buy safes and locks that use these scanners, and install them at home.

The Benefits Of Biometrics

Biometric data is becoming increasingly widespread and can be found on mobile and desktop devices, as well as in passports. Its popularity has come as a result of the benefits it offers end users, merchants, and institutions.

Security

A randomly generated 12-character password, using letters, numbers, and special characters, has more than 5 quadrillion combinations. But, people rarely use such long or random passwords. The 1 in 64 billion chance of sharing the same fingerprint as another person makes fingerprint recognition a highly secure method of authentication. Facial recognition is less secure, but is still more secure than the four-digit pins often used for mobile device access.

Convenience

For end users, security measures need to be convenient to become commonplace. Short passwords and PINs are popular because, despite not being overly secure, they are easy to remember and use. Holding a phone up to your face or placing your thumb over a phone's scanner is a very easy method of authenticating identity: easier even than entering a PIN.

Payment Integration

Cell phones commonly use biometric data to offer access. The information is stored on the phone, and this means that it can also be used by apps like banking apps or digital wallets to confirm identity. This integration offers the same levels of security and convenience when using these apps as compared to using a cell phone.

Availability

Virtually all modern smartphones incorporate fingerprint or facial recognition scanners. The trend was popularised by the iPhone 5S, although it more likely started with a lesser-known device, the Pantech GI100 which incorporated a scanner in the middle of the D pad. According to a 2022 report from Cisco, 81% of smartphones had biometric capabilities, making it a prevalent feature.

Limitations

Despite all of its benefits, biometric data does have its limitations, as well as some potential drawbacks.

Privacy

Using biometric scanners means sharing fingerprint and facial data. Phone companies, app companies, and other developers need to ensure they handle this data sensitively to prevent unauthorised access and to ensure the security of their users. Companies like Apple and Samsung, which have helped make the technology popular, do invest large amounts into biometric security and data handling.

Technology Limitations

Most of us have had to spend time wiping our camera lens or trying to locate dirt on our thumb to ensure we can pass as ourselves. Facial recognition can be even more problematic. If a phone screen cracks or a scanner is damaged, it can mean that biometric scanning features are effectively useless.

Physical Security

While it is very unlikely, although not strictly impossible, that somebody shares your fingerprint or facial features, there are still other security risks associated with these authentication methods. It turns out that it might even be possible to lift fingerprints from other items and create a replicant fingerprint, like in the movies.

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