Biometrics in the Payment Industry: “Almost Every Bank, Retailer,
Payment Company is Looking at How to Incorporate Biometrics into their Future”
- Peter O'Neill – FindBiometrics
Gino Pereira, CEO
of NXT-ID (NASDAQ: NXTD) about Wocket smart walllet at Money 20/20
Point Roberts WA, NEW YORK, NY – November 6, 2015 - Investorideas.com, a global news source
covering leading sectors including tech reports on the recent Money20/20 2015 Conference
held at the Venetian in Las Vegas and the role biometrics will play in the
future of the payment industry.
Money 20/20 is one of the largest events covering
payments and financial services innovation and biometric technology was a key
topic in many of the panel sessions, as well as being incorporated into many of
the exhibiting technologies.
Bryan Yeager, an analyst at eMarketer Inc., in his
presentation at Market Overview: Mobile Wallets & Payments referenced that,
“The movie “Back to Future 2”
featured biometrically authenticated payments in a scene where this guy asks
Marty to thumb him $100 to save the clock tower. That shows they were looking
at biometrics in payments back in 1985.”
Video Clip: Bryan Yeager, Analyst, eMarketer Inc. at Money 20/20
The industry has come a long way and is now very
much a part of reality as noted in the session, ‘Biometric Identity & its
Applications in Financial Services & Payments’, moderated and introduced by Peter O'Neill, President,
FindBiometrics.
Peter told an attentive audience, “Biometric
technology is more popular than ever before. New advances in biometrics have
allowed for massive proliferation. All
the big players are now involved; Apple,
Microsoft, Samsung, Google, MasterCard, USAA, Toyota, Visa, Facebook, Ford,
General Motors, TD, Scotia, Royal, CIBC, Alibaba, Qualcomm, PayPal, Intel, and
on and on and on.”
Commenting on the topic with Peter were some of the
big names in the industry with speakers including Paul Burmester, CEO, Validsoft;
Philippe Le Pape, VP Sales Director, Morpho (Safran); Bob Reany, Group Head
& SVP, Identity Solutions, MasterCard; Rick Swenson, AVP Enterprise Fraud
Prevention & Detection, USAA; and Conor White, President, Americas, Daon.
They discussed how different biometric technologies including voice, face,
fingerprint and iris recognition are enabling new applications in financial
services and payments.
Video Clip: Biometric Identity & its Applications in Financial
Services & Payments at Money 20/20 https://www.youtube.com/watch?v=_fcBGl_kWVw
Investorideas.com also talked to one of the
exhibiting companies at Money 20/20 focusing on biometric security for the
payment sector. Gino Pereira, CEO of NXT-ID (NASDAQ:NXTD) shared how
his company is taking a unique approach to payment technology. Unlike an Apple
Pay, his company’s Wocket® is separate from a phone. Since security concerns
are a key inhibitor to mobile payment adoption, he feels he is on the right
track.
They have also created dual authentication access
with a combination of PIN and/or their voice recognition technology,
VoiceMatch™.
Gino said, “All your information is stored in here
- in this secure unit and as you select the items to pay, it programs one
single card. In fact, it becomes a secure method by which you swipe and pay
with the card of your choice. If you
lose it, there is no identifying information on your card so nobody can take
your credit card number. If you lose
your Wocket®, all your information is
stored securely so without the alpha numeric pin or voice biometrics to gain
access, there is no way you can take over my
Wocket. (www.wocketwallet.com).”
Video Clip: Gino Pereira, CEO of NXT-ID talks about Wocket at Money
20/20
* Note there are some edits in this video due to background noises at Money
20/20 and part of the audio was re-recorded.
Peter O'Neill, President, FindBiometrics also noted
in his introduction that since last year’s panel, the biometrics and finance
market has evolved significantly. “The world’s most prominent mobile concerns
have biometrically enabled M-payment platforms.
Apple Pay, Samsung Pay, Android Pay, PayPal and Alipay – major payment
networks, have integrated biometrics into their offerings and banks have
embraced biometrics for phone, mobile and ATM banking.”
Peter also said, “As data breaches continue to rise
and as the password continues to prove totally ineffective and as the public
yearns for a better, more convenient and secure way forward - almost every bank
retailer and credit card company is looking at how to incorporate biometrics
into their future.”
Read the full release and view images at http://www.investorideas.com/news/2015/biometrics/11061.asp
Gino Pereira, CEO of NXT-ID at Money 20/20
Samsung Pay at Money 20/20
PayPal at Money 20/20
About Money20/20 (http://www.money2020.com/)
As the industry's
primetime conference and trade show, Money20/20 delivers the biggest scale,
best audience and most engaging event. Money20/20 is the largest global event
focused on payments and financial services innovation for connected commerce at
the intersection of mobile, retail, marketing services, data and technology.
With 10,000+ attendees, including more than 1,000+ CEOs, from 3,000+ companies
and 75 countries, expected at our 2015 U.S. event, Money20/20 is critical to
realizing the vision of disruptive ways in which consumers and businesses
manage, spend and borrow money.
About Investor Ideas (http://www.investorideas.com/)
InvestorIdeas.com is
a global investor news source that follows the money in mining, energy,
renewable energy, water stocks, food and beverage (including organic and LOHAS,
wine), defense and security, biotech, technology and mobile. We have also
recently expanded our global coverage to include Latin American stocks, sports
and entertainment.
Sign up for free news alerts at
Investorideas.com
Disclaimer/Disclosure:
The Investorideas.com newswire is a third party publisher of news and research
as well as creates original content as a news source. Original content created
by investorideas is protected by copyright laws other than syndication rights.
Investorideas is a news source on Google news and Linkedintoday plus hundreds
of syndication partners. Our site does not make recommendations for purchases
or sale of stocks or products. Nothing on our sites should be construed as an
offer or solicitation to buy or sell products or securities. All investment
involves risk and possible loss of investment. This site is currently
compensated by featured companies, news submissions, content marketing and
online advertising. Contact each company directly for press release questions.
Disclosure is posted on each release if required but otherwise the news was not
compensated for and is published for the sole interest of our readers.
Disclosure: Investoridease.com has been retained by NXT-ID for PR, media and
marketing. More info: http://www.investorideas.com/About/Disclaimer.asp
and http://www.investorideas.com/About/News/Clientspecifics.aspContact
Investorideas.com
Contact Investordeas.com
800 665 0411
No comments:
Post a Comment