Digital identity, new payment trend

The use of digital identification technologies has increased in recent years within the financial system, biometric identification is commonly used for security within financial services applications, this tool is expected to increase security in digital transactions .

According to the firm Jumio, specialized in the subject, worldwide there is an increase in the use of digital identification to authorize purchases or transfers, an authentication method that is above other forms of payment, such as credit codes. bank card security

“We see that the plastic of credit cards is disappearing in the most advanced economies, due to the predominance of virtual applications, we observe that the next trend is closer to paying with your face, with biometrics, through digital identity, these are methods that we will see even more and that it will grow even more because different entities are getting into the issue of payments, in the fintech world and financial processes through an application”, commented Samer Atassi, vice president of Latin America for Jumio.

A study conducted by the firm indicates that banks are at the forefront with robust identity verification processes. Since the start of the pandemic, 61% of people surveyed indicate that their bank has placed more emphasis on fraud protection.

sebastian.estrada@eleconomista.mx