Future Smartphone Payments to Rely on Software Security

Future Smartphone Payments to Rely on Software Security

Study finds the growth of smartphone payments will increase the use of biometric security measures on mobile devices.

  • Sep 07, 2018

A new Juniper Research report predicts the biggest shift in mobile payment security will be the move toward software-based methods, which rely on standard smartphone components, according to a press release about the report.

The research forecasts users of these methods will increase from an estimated 429 million in 2018 to over 1.5 billion in 2023. Juniper believes this will usher in an era where mobile payments authentication utilizes multiple biometrics based on people's device usage patterns.

The research, Mobile Payment Security: Biometric Authentication & Tokenisation 2018-2023, found the use of software-based biometrics, such as that offered by voice or facial recognition, will fuel growth in smartphone mobile payments across all price ranges. The hardware-agnostic nature of this will be key to driving adoption, increasing biometrically-authenticated transactions at an average of 76 percent per annum globally. It predicts the major growth for this will come from Asia, with North American usage growing at just 46 percent per year.

"Mobile payment security will broaden hugely thanks to the implementation of pure software solutions," the report's author, James Moar, said in the release. "The key battle now will be to convince users, particularly those in Europe and North America, that these methods are just as secure as traditional hardware-based security."

Featured

  • New Report Reveals Top Trends Transforming Access Controller Technology

    Mercury Security, a provider in access control hardware and open platform solutions, has published its Trends in Access Controllers Report, based on a survey of over 450 security professionals across North America and Europe. The findings highlight the controller’s vital role in a physical access control system (PACS), where the device not only enforces access policies but also connects with readers to verify user credentials—ranging from ID badges to biometrics and mobile identities. With 72% of respondents identifying the controller as a critical or important factor in PACS design, the report underscores how the choice of controller platform has become a strategic decision for today’s security leaders. Read Now

  • Overwhelming Majority of CISOs Anticipate Surge in Cyber Attacks Over the Next Three Years

    An overwhelming 98% of chief information security officers (CISOs) expect a surge in cyber attacks over the next three years as organizations face an increasingly complex and artificial intelligence (AI)-driven digital threat landscape. This is according to new research conducted among 300 CISOs, chief information officers (CIOs), and senior IT professionals by CSC1, the leading provider of enterprise-class domain and domain name system (DNS) security. Read Now

  • ASIS International Introduces New ANSI-Approved Investigations Standard

    • Guard Services

  • Cloud Security Alliance Brings AI-Assisted Auditing to Cloud Computing

    The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today introduced an innovative addition to its suite of Security, Trust, Assurance and Risk (STAR) Registry assessments with the launch of Valid-AI-ted, an AI-powered, automated validation system. The new tool provides an automated quality check of assurance information of STAR Level 1 self-assessments using state-of-the-art LLM technology. Read Now

  • Report: Nearly 1 in 5 Healthcare Leaders Say Cyberattacks Have Impacted Patient Care

    Omega Systems, a provider of managed IT and security services, today released new research that reveals the growing impact of cybersecurity challenges on leading healthcare organizations and patient safety. According to the 2025 Healthcare IT Landscape Report, 19% of healthcare leaders say a cyberattack has already disrupted patient care, and more than half (52%) believe a fatal cyber-related incident is inevitable within the next five years. Read Now

Most   Popular

New Products

  • AC Nio

    AC Nio

    Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions.

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.