B2B Payments

Biometric Analysis Helping To Curtail eCommerce Fraud

BioCatch in late May launched an eCommerce fraud-prevention to that uses behavioral biometric analysis to detect suspicious behavior and authenticate repeat customers.

BiometricUpdate.com reports that the system creates a behavioral profile for every customer of an eCommerce site or mobile app. It bases the profile on more than 500 bio-behavioral, cognitive and physiological parameters observed when the user holds and touches a mobile device, interacts with an online site and responds to subtle hidden challenges.

The threat-detection technology also reportedly identifies fraudsters by targeting typical behavior of scammers.

“The eCommerce solution developed out of a necessity for effective fraud protection, while minimizing obstacles for customers visiting eCommerce sites,” BioCatch CEO Benny Rosenbaum noted in BiometricUpdate.com piece. “The platform is a natural progression of our continued successes protecting banks and online spaces. We are effectively addressing the two greatest problems facing eCommerce today: user experience and fraud.”

At least two efforts are underway to develop standards where biometrics could play a role in helping eliminate the use of usernames and passwords for online and mobile authentication. Click here to find out more. For a full report on the biometrics market, click here.

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