Growing Demand for Biometrics in POS System Market

biometric payment POS

Point of sale (POS) system is playing an important role in retail industry by helping business avoid manual errors, better manage inventory, customers, merchandising and marketing campaign. With the advancing technology developments that enable POS system to be more secured and convenient, the demand and adoption of POS is expected to witness a significant growth…

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Biometrics to Help Fight against Poverty in Africa

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There’s growing trend of deploying biometrics to distribute stipends or pension to the elderly in Africa in recent years. This is African government efforts to build an effective identification scheme in order to fight poverty in the region. According to the Centre for Global Development (CGD), the absence of proper identification tools inhibits citizens’ access…

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Biometric Revolution in Retail Business

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Online shopping has given opportunities for retailers to identify, understand and engage customers as they go through the process of product purchasing. The analytics can provide not only customers’ personal information but also insights what they’ve browsed for, how long they’ve spent clicking around, and which items they’ve put into their basket. However, for in-store…

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Biometrics to boost up a cashless society

iris biometric payment

In recent decades, consumers have changed a lot on the way they make payment. Thanks to fintech proliferation, cashless transaction is gaining more momentum. According to Federal Reserve Payments Study 2016, U.S. noncash payments are estimated to have totaled over 144 billion with a value of almost $178 trillion in 2015, an increase of more…

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Hotel Business Put At Risk after POS Hack

iris biometric POS

In June this year, 20 hotels run by HEI Hotels and Resorts, including Hyatt, Marriott, Starwood and Intercontinental were affected by the malware which targeted payment card information of customers. According to privately-owned HEI, hackers were desired to target POS (point of sale) systems and steal card data used by customers to make payments. In…

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Biometrics to Boost up M-Commerce Market

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Along with the widespread of e-commerce, m-commerce or trading on mobile is gaining prominence in the years ahead. Here are some mind-blowing figures about M-Commerce. Based on the Goldman Sachs report, worldwide consumers making purchases via mobile increases to $626 billion in 2018  from $204 billion in 2014. According to this report and the projected world…

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Biometric payment – An evolution in payment technology

Biometric micro ATM to provide a cost-effective and ultimate solution for the micro finance’s development

The evolving of payment technologies is fueling the rise of biometrics. Biometrics is becoming more important for payments due to the ability to enhance the security of transactions. Biometric payment is a point of sale technology which uses biometric modalities to authenticate a user and authorize the online payment. Many banks around the world have…

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