Why Should Fintechs Adopt Biometric Palm Scanners for Security and Compliance?
Fraud, compliance costs, and user drop-off are major pain points for fintech platforms. Traditional cards and PIN codes can no longer protect high-value transactions.
The WavePass500 Biometric POS bridges biometric security with legacy card compatibility, providing a compliance-friendly solution for banks and fintechs.
Industry Pain Points
- Transaction Fraud: Billions lost yearly from card cloning and stolen credentials.
- Complex Authentication: Users abandon apps when forced through OTPs and multi-steps.
- Compliance Pressure: Meeting PCI DSS, EMVCo, and regional eKYC requirements is costly.
Why WavePass500 Fits Fintech
- Palm Vein Biometrics: Subcutaneous vein matching, nearly impossible to fake.
- Card Support: Reads ISO7816 contact cards and ISO14443A NFC cards for inclusivity.
- Developer APIs: Easy integration into e-wallets, mobile banking, or payment platforms.
Conclusion
Fintechs can enhance fraud prevention, compliance, and user trust with WavePass500.
Instead of choosing between cards or biometrics, offer both in a single terminal.
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