{"id":18880,"date":"2014-07-11T10:17:29","date_gmt":"2014-07-11T10:17:29","guid":{"rendered":"https:\/\/drprem.com\/tech\/?p=18880"},"modified":"2020-09-10T05:00:42","modified_gmt":"2020-09-10T05:00:42","slug":"future-payment-processing-industry-lies-biometrics","status":"publish","type":"post","link":"https:\/\/drprem.com\/tech\/future-payment-processing-industry-lies-biometrics\/","title":{"rendered":"Future of Payment Processing Industry Lies in Biometrics"},"content":{"rendered":"
\n\"Grow<\/a>\n<\/div>\n

There have been considerable advancements in biometrics technology and fast becoming an integral part of payment processing. Most of the traditional verification as well as authentication methods are now being replaced by new methods, such as iris, facial and fingerprint recognition. It is clear the future lies with biometrics and it is going to replace older authentication methods such as PIN codes and password key chains.<\/p>\n

\"biometrics<\/p>\n

Future Prospects of Biometrics<\/strong><\/p>\n

According to industry experts the market for biometrics consisting of DNA, face, signature, voice, palm-print, vein and retina recognition is going to expand by 2020 and will be worth $5 to $23 billion.<\/p>\n

The use of biometrics is especially useful for the financial institutions as it is going to help them reduce expenditure on implementation of conventional security measures since biometrics is less expensive to implement then other security systems.<\/p>\n

\u00a0\"biometrics<\/p>\n

Use of Biometrics in 2014<\/strong><\/p>\n

Biometrics is already being used at many places all around the world. Let us now look at some of the implementations that are taking place.<\/p>\n

\u00a0\"Digitaler<\/p>

\n\"Dr<\/a>\n<\/div>\n\n