No form of single factor authentication has ever provided an optimal level of security. As technology moves forward, biometrics has been introduced into the world of payments to enhance security and convenience. Rightfully so, as a form of authentication, biometrics is here to stay.
Traditionally we talk about three types of authentication:
- Something you know (e.g. a password)
- Something you have (e.g. an physical token)
- Something you are (i.e. biometrics)
But if we want to solve the challenges in a meaningful and sustainable way we must also think about identity management in terms of static and dynamic authenticators as well as multi-multi-factor authentication.