Going Passwordless: Companies Bringing on the Biometrics

Sep 20, 2019

Security experts are more and more often talking about the problems with static passwords and highlighting the benefits of other security measures such as physical and passive biometrics. To discover what’s behind these new security technologies and find a reliable processor to avoid fraud, just read the article below.

Biometrics Instead of Passwords

In this day and age, mobile and cloud computing are everything. Passwords, authentication, multi-factor authentication… This is the synchronous connection between users and online financial institutions, social media sites, 3rd party applications.

Since 2016, over 5 billion passwords have been stolen. In 2018, the vast majority of companies faced the problem of password policy violation. This made companies start seriously thinking about zero-password access to services, as a recent report on passwordless authentication reveals.

Even the more advanced login security technology means such as 2FA, phone-as-a-token MFA, and SMS 2FA aren’t fully deprived of weaknesses. That’s the reason why the majority of companies have decided to start using new authentication solutions, as research firm Enterprise Management Associates (EMA) reports.

Going passwordless with biometric unlocks is a step forward in the field. Unlocking your phone with your fingerprint or FaceID, which is also true of Windows 10, can help you enjoy increased security and better privacy protection.

Thanks to modern authentication technologies, both consumers and businesses can enjoy new, more reliable security measures. These solutions can become part of everyday workflow seamlessly. To take advantage of the latest developments, such as biometrics, in the modern payments space, it’s critical to work with a true payment expert like eMerchantBroker.com.

EMB, voted the nation’s #1 high risk credit card processor and considered a respectable provider of alternative business financing, is an A+ company by the BBB. In addition, ValuePenguin has listed eMerchantBroker.com as the “Best All-Around High Risk Merchant Account Provider,” and Card Payment Options has ranked EMB as an A company.

eMerchantBroker.com is committed to offering only the lowest possible rates and fees, as well as the fastest application in the industry.

Benefits of Going Passwordless

Password insecurity is a much bigger problem than you might think. The truth is that there’s nothing weaker than passwords in the authentication process.

It’s interesting to take a look at what the researchers with SailPoint Technologies, an identity governance vendor, have revealed during their 2018 Market Pulse Survey. So:

  • 75% of users having participated in the survey were still using the same passwords for different accounts. In 2014, the number was 56%.
  • 47% of respondents were using the same passwords for both personal and work accounts.
  • 23% of them were almost always using the same passwords for work accounts, and 67% for personal accounts.

Google has recently announced that it’s moving from passwords to fingerprints or other authentication methods on its own services. The feature is designed to be used on Pixel devices first and then for devices running Android 7 Nougat or higher.

Before Google, in 2016, Microsoft introduced how Windows Hello could help implement authentication on websites. Apple isn’t an exception: the company is reducing password usage with the help of “Sign in with Apple.”

Specifically, passwordless authentication can help:

  • Enjoy a higher level of security by mitigating the risk of phishing and password spray and going for a passwordless multi-factor authentication (MFA) solution
  • Increase convenience by enabling users to sing in and get access to their data from anywhere more easily and conveniently
  • Manage at scale by using an identity and access management solution that allows for single sign-in, managing MFA options, and enabling all users to enjoy conditional access policies.

To sum up, the number of companies planning to opt for passwordless solutions is growing. This is how they can ensure their clients can stop worrying about their data. This is the way to add to the security of companies’ own infrastructures. That’s the reason why biometrics-focused authentication is becoming more popular for improved user experience and security.

Here, the importance of informing end users about the advantages and downsides of the currently used security technologies is too important. This will help them have a better idea on the basic issues stemming from passwords, thus helping them make better decisions and support secure processes.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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