Many digital stories show that passwords are becoming a thing of the past and cannot support the trillion-dollar mobile payment market.
In 2014, there were 1,500 data leaks worldwide and 1 billion personal information was stolen. The average annual loss caused by mobile fraud is as high as $92.3 million. In contrast, the Internet financial market represented by mobile payment is booming. On the day of “Double Elevenâ€, the number of Alipay mobile payment transactions has reached 197 million. iResearch expects that the scale of mobile payment transactions in 2018 is expected to exceed 18 trillion yuan.
Why is this happening? Because the password is stored in a centralized database, it is easy to be stolen. What's more, it is not for mobile devices. Except for the lack of security, the password is too much to remember, and it is not easy to input. More than 66% of consumers have experienced failures to try to complete a transaction on a mobile phone, many of which are due to improperly designed or implemented verification solutions.
It’s time to kill the password, biometric technology is replacing the traditional password. Biometrics are fast, convenient, safe, unique, and not lost. In particular, the inherent characteristics of users will make them widely used in smart devices and mobile services.
With 20 years of experience in the field of human-computer interaction, SynapTIcs has a leading position in the global biometrics market. To date, SynapTIcs has delivered more than 200 million fingerprint recognition sensors, ranking first in the global mobile device arena. At the same time, SynapTIcs has 240 patents for biometric technology that have been and are being applied for. In March of this year, SynapTIcs released the world's first side-sliding fingerprint recognition solution.
Technological innovation is accelerating. According to Anthony Gioeli, vice president of marketing for Synaptics Biometrics Products, "In the next few years, in addition to the well-known two-factor authentication, the industry will generally interview three-factor biometric authentication to achieve a lasting and effective authentication method. For example, face, sound The fingerprints and pupils are the four major factors that combine any three factors in a unique order to achieve the best security experience."
The FIDO Alliance brings the ecosystem together
The rapid adoption of biometric authentication depends not only on the widespread adoption of fingerprinting sensors in the device, but also on whether the entire ecosystem can provide a complete solution. Leaders in chip development, banking, payments, operating systems, and industry standard compatibility must join hands to develop reliable, secure software across multiple platforms.
Mobile payments require an ecosystem of prosperity and growth through a standardized alliance, and the FIDO Alliance (Fast Identity Online) is an international consortium that sets standards for biometric authentication systems. The slogan is “kill passwordsâ€. Its members have grown from six founding members in February 2013 (including Synaptics) to the current 152 members, including Google, Bank of America, PayPal, Microsoft, VISA, and more. As a founding member of the FIDO Alliance, Synaptics is committed to expanding the adoption of biometrics with FIDO; enabling innovation and integration of biometrics; and building a mobile payment ecosystem.
As the only FIDO-certified sensor supplier on the global market, Synaptics is able to provide total solutions for mobile payments, including system-level innovation to optimize the user experience; deliver products in large quantities, support high-volume production plans, and have biometrics in China Design Center; has a wide range of ecosystem partners, including Google, Intel, FIDO, Microsoft, etc., and supports all forms of payment, such as POS, In-App Payments, and Mobile Web.
A very important first step in building an ecosystem is to implement fully customizable solutions through open, extensible and interoperable mechanisms. However, while partners provide ongoing support and ecosystems continue to evolve, they also need to embrace component manufacturers, device manufacturers, software developers and service providers. All of these efforts will ultimately help to drive demand for fingerprint identification in the market.
1.4 billion devices will be adopted in the next five years
The mobile space is accelerating the adoption of fingerprint recognition technology. IHS's research shows that the equipment supporting fingerprint recognition sensors will grow from 317 million in 2014 to 1.4 billion in 2020. We will see that the demand for human-machine interface technology will continue to grow faster and faster. Growth.
Fingerprint recognition has become an important feature of flagship mobile devices. With the help of major device manufacturers such as Apple, Samsung and HTC, today's consumers are increasingly willing to protect data security and authorized payment on mobile devices through biometrics. End users are abandoning passwords and instead use fingerprints as a more secure and user-friendly method.
Compared to other competitors, Synaptics fingerprinting technology has four major advantages: First, sensor size and button shape are the most diverse, allowing mobile phone manufacturers to place fingerprint recognition anywhere on the phone, including the front, side and back. Second, mature core technology; third, the ability to isolate sensors and ICs, the solution is more robust and reliable; fourth, the number one supplier of press sensors and sliding sensors. In the future, Synaptics' fingerprint recognition technology will continue to innovate in terms of integration methods, optimal performance, ease of use, and so on, providing device manufacturers and end users with compelling advantages.
In addition to smartphones, online payment authentication, such as Google Wallet, Samsung Pay, and ApplePay, is creating new market demand for fingerprint recognition technology. In order to seize this new business opportunity, even low-end and mid-range smartphone manufacturers are looking for a fingerprint identification solution that is usually only seen in high-end devices, which may lead to a new level of adoption of fingerprint recognition technology. In addition, with fingerprint recognition, secure online payment needs include other areas, for example, in the keyboard base or under the natural placement of the thumb on the mouse. In March of this year, Synaptics launched the latest fingerprint recognition for gamers. The solution allows gamers to trade quickly and securely and achieve reliable authentication.
Looking forward to the future, the password will become a past tense, and biometrics will be widely adopted in various life scenarios.
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