Fingerprint is the Next Big Thing in Security
Author: huifan Time: 2017-08-18
Biometric and Financial industry analyst Alan Goode of Goode Intelligence proclaim that fingerprint will be the most commonly used biometric identifier in the next several years.
Banking and payments industries are increasingly turning to fingerprint, which has led to significant growth projections: 114 percent from 2012 to 2015, when biometric revenue is forecast to reach $15 billion, and an additional 57 percent through 2020, when the market will be valued $23.54 billion. In China, many banks added fingerprint when register new IC card. In 2015, Huifan has successful projects in many countries’ banking and payment fingerprint IC card reader HF7000 to identify users, such as Nigeria, Pakistan, South Africa and so on. PayPal survey showed that 53% were happy to use fingerprints, with 45% preferring iris scan and 41% with photo identification. The fight against theft is best achieved through the adoption of multi-factor authentication, where fingerprint is a part of the way a user is identified. Merchants' interest in biometric fingerprinting technology is increasing as RFID scanners decline.
Global use of Fingerprint Passports further supports the development of personal fingerprint across all industry types. The fingerprint reader from Huifan Tech are installed in airport and custom to identify passengers, avoid criminal offendors.
The time is now right for biometric technology to emerge as a secure solution for mobile applications that require high levels of security, particularly mobile payment. By using biometrics identification, financial institutions believe that they will be able to provide the level of security necessary to reduce the risk of Internet fraud, money laundering and identity theft.