Guiding consumers since 2009

Biometric payments – The future of shopping?

By Jessica Anne Wood

The Payments Association of South Africa (PASA) is working with MasterCard and Visa to facilitate biometric authentication on payment cards. The technology is designed to ensure open interoperable solutions in South Africa. It enables the use of various biometric solutions from fingerprint verification to palm, voice, iris, or facial biometrics.

The use of biometric verification is intended to prevent fraud, while also making it easier to pay securely. The structure designed by MasterCard and Visa allows biometric data to be read by a biometric reader, encrypted and validated.

Walter Volker, CEO of PASA, said: “As an industry we are proud to have facilitated the world’s first truly interoperable biometric specification that will unlock the benefits of biometric verification and make it available to an open community in a way that is affordable, reliable and secure.”

James Simpson, country manager for Visa in South Africa, clarified that to support wide adoption of the system, it is important that solutions are scalable and based on open standards. “Building on the current standards, this provides a common, interoperable foundation, as well as encourages innovation in cutting-edge biometric solutions.”

Mark Elliott, division president for MasterCard in South Africa, elaborated that through this interoperable verification standard, multiply merchants and other players operating with different rules and technologies can be connected. “Together, we can drive ubiquity, safety, and utility of biometric payments, while helping to accelerate the number of smart and secure biometric payment solutions available to consumers on these platforms.”

 

 Handy tip: You can compare credit and debit card charges on Justmoney, click here.

Recent Articles

Featured Are you entitled to your spouse’s pension after divorce?

Divorce means more than just parting ways with your partner. It may also involve parting ways with your assets. The Divorce Act states that your retirement fund forms part of your assets. This means that it will be considered when dividing up your assets.

Retrenched – what payments are you entitled to?

In the current struggling economic climate, retrenchments are a regular occurrence and not everyone survives the cut. If you find yourself on the receiving end of retrenchment you may have questions about the payments that are due to you.

Do you want to settle your debt?

You may be considering settling your credit account, whether it’s a credit card or various store accounts, now may be as good a time as any. This especially if you have saved, or you received a tax return or salary bonus. 

Can you afford a personal loan?

Taking out new debt is not always a choice. However, if you’re not pressed by a medical emergency or an unforeseen disaster, it’s worthwhile considering whether you can actually afford it. But what does it mean to “be able to afford a personal loan”? What percentage of your income should you not exceed dedicating to it? 

Deals

Eat for less on Tuesdays at Panarotti’s

Price: R59.99
When: Tuesdays
Where: Nationwide

Get discounts with Clicks ClubCard Seniors Programme

Price: Available on request
When: Daily
Where: Nationwide

Amani Spa Voucher Special

Price: R1000
When: Daily
Where: Cape Town, Jhb, and Port Elizabeth