When it comes to online transactions, our current system of password authentication is becoming increasingly outdated.
Responding to these concerns, online card-payment platforms are beginning to look more favourably towards the use of two-factor authentication systems; specifically pointing towards bio-metric options as being the way of the future.
“The use of passwords to authenticate someone is woefully outdated, with consumers forgetting them, etc...In payments technology, this is something we’re closing in on, as we move from cash to card; password to thumbprint; and beyond...It’s far easier to authenticate with a thumbprint or a selfie, and it’s safer too.”
– Ajay Bhalla, President Global Enterprise Risk and Security, Mastercard
