Welcome to the eighth issue of Verdict Payments
Cashless UK? Payments cards still rule and do not give up on cash just yet.
TrustedBio: the solution to kick-start payments biometrics?
Rather stating the obvious, there is a growing need and an increase in demand for biometric payments solutions. But-and it is a big but - cost has been a huge barrier to the mass production of this technology.
That may be about to change.
On any given day, the Verdict editorial desk will receive many a press release relating to vendor product announcements.
To be honest, the majority tend towards being instantly forgettable.
As this issue of Verdicts Payments goes to publication comes a release that merits a special mention.
And results in a hasty re-write of the proposed editorial.
To tackle the aforementioned cost challenge, IDEX Biometrics is launching a new biometric smartcard suite of products and solutions.
Dubbed TrustedBio, the launch incorporates a new family of dual-interface products and solutions. Moreover, TrustedBio is designed not just to reduce biometric smartcard cost. The aim is also to improve performance and security. And of course the ultimate goal is to accelerate market adoption.
IDEX Biometrics TrustedBio: a major step forward
We hear plenty about consumer concern about a cashless society but what about the prospect of a cardless society?
Research released by IDEX Biometrics on 3 September notes that three quarters of UK consumers are concerned about the UK becoming a cardless society. A lot of consumers remain very conservative in their outlook and quite simply want to choose their method of payment.
IDEX key findings report that only 20% of all UK consumers believe the UK should already be a cashless society. Moreover, six-in-ten people would not give up their debit card in favour of mobile payments. Meantime 68% of respondents to the IDEX report state they still feel more secure using their debit card than a mobile payment.
On these figures there is an argument that UK consumers are actually more worried about the idea of a cardless society, than a cashless one.