Visa seeking biometric payment partners

Global payments giant Visa is seeking industry partners as it looks to develop biometric solutions for the payments industry. Speaking at the Australian edition of CeBIT 2015, George Lawson, Visa Australia and New Zealand’s head of emerging products and innovation, said on Tuesday that frictionless payments were the future. 

The actual process of payments would gradually "slip to the background" as biometrics, authorised internet connected devices and contactless payment systems come to the fore, said Lawson, reported Banking Day. 

In Australia, 60 per cent of card transactions were now contactless, running at a rate of 70 million a month, giving the country the highest adoption rate of contactless payments in the world. "We are looking to work with industry on the issue. 

If I use a biometric how can I re-use that in another instance on the device?" he asked. However, Lawson noted that the biometric data and authentication processes would have to be managed by a trusted party in the payments equation – not necessarily Visa itself. - See more at: http://www.planetbiometrics.com/article-details/i/3015/desc/visa-seeking-biometric-payment-partners/#sthash.w5BnPzJE.dpuf