With so many developments happening in the e-commerce industry, more and more people have started preferring online buying and selling. The e-commerce industry has seen a tremendous change in the way we shop today and in the way of logistics as well.
Until a few years ago, people still preferred paying cash upon receiving the product only.
But with the proper establishments and facilities, e-commerce sites have now instilled trust within the people who started making payments online using their phones. But this aspect saw a lot of drawbacks like fraud in terms of money. This is where biometric payment gateway came into picture. Here is how it took precedence in the e-commerce industry:
The biometric recognition in payment gateways has caused a revolution. This has become the most secure way of making payments from one part of the world to the other. The payment gateways do not rely upon passwords anymore.
Passwords have become an outdated method to keep your accounts and / or payments secure.
With biometrics like fingerprint and facial recognition, nobody can even come closer to hacking your account or make fraudulent payments in your name. This has caused a stir in the market and more and more payment gateways are facilitating payments using fingerprint and facial recognition.
2. Prevents misuse
Say, you have shared the password of your account with your friend because they needed it urgently to make a payment. You obviously trust them enough to share this detail with them.
But it could get misused easily and thus, to avoid that from happening, payment gateways now require your biometric information like your fingerprints or facial recognition.
This way, shall anybody try to use your payment gateway information in your absence will not be given the chance to access it because they will not have a fingerprint or facial recognition in place. This has become a revolutionary advancement and is sure to reduce misuse or fraudulent activities in terms of payments.
3. Faster processing
When you purchase something online, you will realize that you are directed to a new payment gateway page that either requires your password or sends a one-time password to your phone and then waits until you have filled it in. But with this new revolution of fingerprint and facial recognition, the process just got faster.
All you need to do here is to scan your fingerprint and then hold your phone exactly in front of your face to get it to recognize your face.
Once that is done, there will be no need of passwords or one time passwords and the payment will be made easily. This concept of scanning your fingerprint and having facial recognition has changed the way you make payments forever.
If you are looking to add such features to your website and / or payment gateway, you must approach a professional like magento ecommerce developers. They will facilitate you to hire magento developer who have the right skills and knowledge!