Snazzy tech only makes them confused and suspicious
By silicon.com
Published: 14 March 2006 10:00 GMT
Banks and credit card companies are being pulled in two directions.
On the one side they want faster, more convenient ways for customers to pay - but on the other they need to tighten security and crack down on fraud.
In a perfect world, both would be possible but the way things are going, it's obvious there's no comfortable balance between the two.
Take the Co-op's trial of biometric payments. It's a novel idea, whereby customers use their fingerprint to verify payment on their debit or credit card; one that brings James Bond technology to the checkout.
But so far biometrics have not yet been proved successful in the consumer space. In a closed environment, such as the military or even the top-secret world of the corporate office, they have a far higher chance of working well.
The risks elsewhere are that 007 finger-scanning equipment is only going to confuse the average shopper, who, unused to the new system, will hold up the checkout queue.
Chip and PIN takes long enough when you're waiting for someone to buy a 75p croissant but imagine the kafuffle with biometrics.
And even if finger-scanning does prove more convenient, people will undoubtedly worry about the security of this 'newfangled technology' since it's their money at stake.
We're not saying everyone should give up on biometric payment systems - but as with all new IT projects the user experience is key. Don't underestimate the power of the consumer to be confused by and suspicious of new technology.
Your average shopper may not be as swanky and as sophisticated as James Bond but the spending power of armies of them could still pack a lethal punch.
Essential skills & experience: * CISSP or similar security certification, * 3+ years experience as a System Engineer with expert knowledge of two or ...
The New Business Sales Executive / Business Development Manager / Sales Executive will be selling into the Payments services space, so will have a ...
Requirements, Use Cases, Process maps.Experience of business process mapping & designExperience of using Use Cases to structure analysisExperience of ...
Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.
Stories from the web...
Copyright © 2008 CBS Interactive Limited. All rights reserved. Top of page
Tim Ferguson
On a new Voyager, tackling fraud and the intellectual challenge
Interview: Nationwide IT director, Peter Stafford
Nick Heath
David Lister on smart grids and why he left RBS
Interview: National Grid CIO
Andy Jones
Why banks will push ahead with offshoring
Comment: Even if they don't want to
Catherine Stagg-Macey
Legacy IT holding back insurers
Comment: Economic crisis means finance giants must step lively
Julian Goldsmith
The City fund manager with no IT department
Q&A: How asset management is embracing the cloud...
Peter Cochrane
Peter Cochrane's Blog: How tech can solve the banking crisis
Bring on a machine-based economy