Welcome » IT Booklets » Retail Payment Systems » Payment Instruments, Clearing, and Settlement » Emerging Retail Payment Technologies » Biometrics for Payment Initiation and Authentication
Biometric payment services allow a consumer to make purchases or to cash checks using a biometric identifier such as a finger scan linked to his or her personal identification information, accounts at a financial institution, or loyalty programs. Other biometric methods include voice scanning and iris and retinal imaging. Biometric technologies are used increasingly for consumer account authentication. However, a biometric identifier alone is only a single factor, and it may need to be combined with other technologies or factors for proper authentication of high-risk banking transactions. FFIEC Guidance "Authentication in an Internet Banking Environment," October 2005 www.ffiec.gov/press/pr101205.htm FFIEC Guidance "Authentication in an Internet Banking Environment - Supplement," June 2011 www.ffiec.gov/press/pr062811.htm As new payment systems emerge, industry demands for anti-fraud measures may result in greater use of biometrics.