Consumers will have to trust biometric identification and other security technologies used for digital payments if they are to become an accepted form of payment approval.
Paul Trueman, head of enterprise security solutions at MasterCard, said at TechUK’s Payments Innovation Conference 2015 that the payments industry must put consumer needs first, rather than inventing security and identification technologies that end up putting people off.
“There’s a thousand opportunities out there, there’s enterprise left, right and centre, there’s probably a thousand people coming at us about biometrics, and they’re all starting with: ‘How can I make this work?’,” he said at the event, attended by V3.
“You’ve got to go where the consumer goes, because that in the end is what’s going to make the difference. It used to be about devices. I think it’s much more about the consumers.”
Labour MP Chi Onwurah echoed Truman’s view, adding that consumers need choice and trust in the security technologies and techniques being offered.
Onwurah explained that consumers are more interested in how digital payments can be made easy and secure, rather than about the technology being deployed.
“What we’ve got to realise is that, just like most people aren’t really interested in politics, most people aren’t very interested in technology, and [payment security] needs to be as frictionless as possible,” she said.
Onwurah added that offering more choice to consumers will give them more control when finding a security system that they are comfortable using for digital payments.
This in turn will build consumer trust in adopting the new technology and moving away from traditional password protection.
Onwurah explained that the technology industry still needs to ensure that the services offered are at a level that can be adopted easily by consumers.
“The industry needs to make the investment to enable that,” she said. “Technology innovation needs the platform to support it.”
Truman agreed and added that the industry will need to work as a whole to get new payment security systems adopted by consumers.
“As a payments industry we need to be more joined up than we probably are about how the forward plan should work,” he said.
Apple Pay is due to launch in the UK in July, and the world of digital payments and banking will soon have an injection of technology from one of the world’s biggest brands.
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