Mobile payments will become more integrated in the way we shop, buy and sell in the coming years. PCMag published an article this week discussing some of the innovative technologies being brought to the market to authenticate these transactions to to reduce the significant threat of fraud in an area that is growing faster than security technologies are being developed to protect it.
Contactless and and wearables-based authentication methods seem to be likely to be used in this case (as discussed previously in this blog). If the user is wearing their smart watch and tries to make a payment, simply validating that this second device is present makes the watch a kind of token. Niche players will also no doubt begin marketing authentication methods based on image and voice recognition, gesture capture and other data that can be captured about the user and used in an authentication context.
These methods will be viable in the long run if they take a mobile-centric view of what it means to authenticate an individual. With mobile, many of the traditional authentication methods enterprises rely on will become obsolete, and flexibility/cross platform support will become key requirements as new authentication methods are required to work across an ever increasing number of devices in use. This will create a discussion that centers more around the user themselves (their unique attributes, behaviors, devices, locations...), and what it means to determine whether they are who they say they are.