New reports out of Korea indicate there may be some growing interest from financial firms like banks or credit card companies to incorporate iris scan security into the methods used to secure financial transactions. Iris scanning may be familiar to more users now with the launch of the Samsung Galaxy S8 and Galaxy S8+ which both make use of the technology as a way for users to unlock their devices. The latest interest shown in this technology could open the door to its use for security purposes when consumers make use of mobile payment platforms.
Security experts and industry watchers generally seem to agree that the iris scanning technology is much more secure than the use of fingerprints and passwords rendering it “virtually impossible” for a device to be unlocked absent a successful iris scan.
For now the interest primarily seems to be confined to the Korean market and some sources think interest and deployment in the U.S. market will be slow to occur if it ever does happen. The technology was included in last year’s Galaxy Note 7. With the problems that device experienced, and its eventual demise in the market, the iris scanning technology never really got a chance to take off or even garner much in the way of attention.
Would you be interested in using iris scanning for security purposes related to financial transactions or for use of a platform like Android Pay?