The US Visa ePay services company has begun implementing a password-free or password-canceling plan and completely eliminating its operating security and electronic payment systems within five years from now, replacing the newer and stronger insurance systems On biometrics, such as fingerprints, facial fingerprint, cornea, heart rate, and DNA.

Visa has announced that it aims to reduce hacking, fraud and theft to half of its current level when the plan is completed, providing higher levels of comfort, speed, efficiency, confidence and ease of dealing with Visa Cards. The traffic related to forgetfulness and the difficulty of writing.

vision

Two senior officials of Visa revealed the details of the plan in a lengthy conversation with Zdnet.com, an IT specialist, product manager at Visa, Boy Miller, and the head of risk in the Asia Pacific region of the company. , Joe Cunningham.

They emphasized that Visa's vision for the future of electronic payments is based on the fact that it will be completely free of passwords and will include a combination of technologies and collaboration from all concerned with e-payment services and systems. With this move, Visa is putting Microsoft on the road to getting rid of passwords.

Technical advance

According to Miller, Visa believes that there are some developments that make it possible to stay away from passwords in the next five years, in particular advances in authentication and anti-fraud techniques, and the ability of financial institutions and customers to participate in the instantaneous use of data 10 times as much as previously used data.

This coincides with the growing evolution of artificial intelligence and biometrics, which makes detection of fraud faster and more accurate. According to Miller, the deployment of artificial intelligence on the Visa network made it possible to analyze 500 or more different risk profiles on each individual financial transaction in just about milliseconds, to see whether it was likely to be fraudulent or not.

Payments via «mobile»

Miller noted that the previous reasons were accompanied by a widespread shift towards electronic payments through mobile devices and handsets, with the development of smart phones, mobile communications networks and mobile payment applications and services, which encouraged banks and other service providers to rush Mobile payment solutions.

"With small screens and the speed required to handle hand-held devices, it's no longer convenient to write a password, but it's frustrating, because of theft or forgetfulness, difficulty in remembering and writing, and high probability of theft. Miller said that the introduction of a password on smaller devices is "very high" and necessitates a shift towards biometrics.

"If we continue to cooperate strongly across the industry, we can eliminate passwords completely and halve current fraud by 2025, and now we can say that we have achieved a high level of safety and convenience together, and the old saying that security is usually Comes at the expense of convenience ».

Australia .. A realistic experience

Head of the Asia-Pacific Risk Division, Joe Cunningham, reviewed the level of electronic payment systems in Australia, making Visa decide that Australia is at the forefront of countries where e-payment systems are free of passwords.

He said Australia has now reached a stage where Visa, its system of banks, traders, high-tech companies, service providers and cardholders is comfortable and reassuring in its support for technology away from passwords, after some forms of biometrics have reached a stable and secure level. Everyone in Australia is thinking about future bio-measurements of electronic payments.

Cunningham told a research by Visa that the Australian will have about 200 different online accounts in the future and will be required to remember its passwords. One in four Australians uses unique passwords for different services, and 23% use the same PIN in all their credit and debit card accounts.