Biometric Authenticated Payments
Payment systems are subject to fraud arising out of identity theft. Biometric authenticated payments helps address this by using fingerprint authentication for a payment transaction. Usage of biometric authentication involves enrolling the customer's fingerprints and tagging it with the customer identity so that when a customer presents their card for payment the card identity can be used to retrieve and match the live fingerprint presented by the customer with the enrolled fingerprint. Verification can be done locally or remotely, depending upon the system design. Storage of enrolled fingerprints can also be done locally (in a smart card) or remotely on a server. Biometric authenticated payments can help reduce fraud.
Biometric Authenticated Payments
Innoviti provides all the elements required for introducing biometric authenticated payments by a financial institution. Biometric terminals (portable or desktop) are used to accept card transactions. Whenever a card is presented the card identity is used to retrieve the customer's enrolled fingerprint. The live fingerprint presented by the customer is then matched against the enrolled fingerprint and if verified the transaction is allowed to go through. This is described in further detail below.
How it works?
- uniPAY client is deployed in TrueID-GPRS EDC to authorize customers on the basis of fingerprints and then accept credit/ debit card. Once the customer card is swiped then the system retrieves the enrolled fingerprint against the card either locally from the card or remotely from Innoviti's Biometric Security Module (BSM).
- Once the fingerprints are authorized, the transaction is routed to the uniPAY switch and to the acquiring bank for authorization.
Benefits
- Stronger customer identification using fingerprints.
- Seamless integration into existing payment operations.
- ISO, ANSI based standard authentication allowing interoperability between various systems.
- Customer history tracking for credit records and eligibility for other financial products.