Biometric authentication is now possible thanks to integration with Google Pay
Fintech company Checkout.com has announced a strategic partnership with IT giant Google. The partnership will result in secure biometric authentication for the Google Pay service, which will be used for payment transactions. This takes the digital solutions provider to a new level of service delivery. Now, customer identification has become as convenient and fast as possible. The updated mechanism for Checkout solutions includes biometric verification for:
– PIN;
– password;
– facial recognition.
This will significantly speed up the ordering and payment process. In this way, the company aims to increase its competitiveness in the digital payment services market.
Solution benefits
The traditional method of verification is the use of one-time passwords, but this needs to be fixed. It redirects the request to multiple pages, increasing the risk of fraud.
The biometric authentication system has already proven its efficiency and high level of protection. This has been demonstrated by testing the mechanism on Checkout products:
– the speed of order placement increased by 30%;
– the quality of user identification increased by 5%;
– the number of successful authorisations increased by 3%.
Guillaume Pouzaz, the founder of fintech, praised the partnership with Google Pay. According to him, the introduction of the designated authentication technology will solve a number of sector problems, particularly the performance of 3DS solutions, which can often suffer.
The British company’s role in developing the sector is also worthy of note. Checkout.com was the first e-payment provider to introduce biometrics to the digital wallet.
In addition to Google Pay with authentication, customers can also use Smart Acceptance. This is dynamic routing based on AI. In this case, the developers have analysed a large number of payment transactions to create an individual mechanism for each customer. The service chooses the best way to process a transaction in each case. This ensures high speed of data transfer and its protection.
The system allows merchants to improve their efficiency and increase orders. According to Checkout statistics, the solution has reduced the number of abandoned shopping carts.
One of the company’s key objectives is to provide quality fintech products for merchants and their customers. It regularly improves its approaches in response to market demand, enabling it to maintain its status as one of the world’s leading digital payment providers.
