Fintech Insider Podcast by 11:FS
842. Insights: How will digital identities shape the payments landscape? - Live from J.P. Morgan Payments
Apr 4, 2024
The podcast explores how digital identities will shape the payments landscape, discussing the EU's plan for a universal e-identity, limitations of PSD2, value for merchants in the US, use case for biometrics, and finding a balance with regulations. The episode also delves into biometric payments in retail, regulatory challenges, user adoption of new payment systems, enhancing child protection with digital identities and biometrics, and trust dynamics in digital payments.
45:43
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Biometrics enhance payment security by reducing fraud through block lists for bad actors.
- Trust in private sector entities like Apple for biometric data differs from government-led initiatives due to perceived benefits and privacy concerns.
Deep dives
Biometrics and Fraud Prevention in Payments
Biometrics like face and palm scans are effective in reducing intentional and unintentional fraud in payment systems. The use of biometrics allows for the creation of a block list for bad actors, enhancing security and reducing fraud significantly. While there are concerns about deep fakes online, particularly in KYC and AML checks, the sophistication of biometrics in real-world transactions provides a robust method of fraud prevention.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
