EyeVerify: A Payment Grade Standard Could Help mPayments

iris biometricsEyeVerify CEO Toby Rush is calling for a new standard in mPayment biometric security. In a blog post on the eye vein biometrics company’s website, Rush argues that a “Payment Grade” standard could help to settle business’ anxiety over the relative security of various biometric solutions.

Rush notes that when e-commerce was just starting to pick up steam, the VeriSign logo, which became an agreed-upon standard across the industry, “was a key factor in building end users’ confidence in the technology,” and adds that the biometrics industry “needs a simple indicator that financial institutions can trust.” The standard should be based on three core metrics, he says: Accuracy, liveness, and privacy.

While the importance of accuracy is a given, Rush’s emphasis on liveness detection and privacy is forward-thinking; major companies like MasterCard are already beginning to see the importance of liveness detection as a means of avoiding vulnerability to spoofing; while privacy as another area of growing concern to consumers and businesses, with market advantages starting to appear for companies committed to protecting the privacy of users, as reflected in Apple’s recent positioning.

The value of establishing industry-wide standards is already being demonstrated by groups like the FIDO Alliance. Given the advantages of its UAF and U2F specifications, a strong case could be made for the organization or another to develop the Payment Grade standard that Rush prescribes.

 

(Originally posted on FindBiometrics)