Structured Summary
- Biometric authentication and tokenization are effective mobile payment security methods in 2024.
Biometric Authentication
Biometric authentication involves using unique biological traits such as fingerprints, facial recognition, or iris scans to verify a user's identity. This method provides a high level of security as it is difficult to replicate or fake these biological traits. In 2024, advancements in biometric technology have made it more reliable and convenient for mobile payment security.
Tokenization
Tokenization replaces sensitive payment information with a unique token, making it useless if intercepted by hackers. This method adds an extra layer of security to mobile payments by ensuring that the actual payment details are never exposed during transactions. In 2024, tokenization has become a standard practice for securing mobile payment transactions, making it an effective security method.