Biometric identification in online trading
COVID-19 has led to an increase in online transactions. In this context, biometric identification is emerging as a safeguard against online fraud.
One of society's greatest concerns since the dawn of commerce has been to ensure the security of transactions.
While we had already become largely accustomed to operating over the Internet, the COVID-19 pandemic has led to an increase in online transactions, also between companies and institutions.
With this increase in B2B commerce, there is an urgent need to ensure that these transactions are secure, both for the seller and the buyer.
To solve the problem of anonymity provided by the web, biometric security has become involved in buying and selling, which guarantees that whoever buys or sells is who they say they are.
What is biometrics and how does it apply to cybersecurity?
Humans have traits that are unique and non-transferable: fingerprints, iris, voice... Our DNA.
Biometrics studies our traits in order to recognise people unequivocally.
In this way, we can use our fingerprints or our voice, for example, to confirm that we are who we say we are.
Cybersecurity has found in biometric identification what it needed to achieve reliable authentication given its characteristics:
Unique: biometric traits distinguish each person from others given their uniqueness.
Immutable: they do not change over time or with any environmental conditions.
Measurable: traits can be measured. In other words: it does not store a photo of your fingerprints or face or a recording of your voice, but transforms this information into mathematical representations. These are compared with our traits to identify us.
Universal: all people have biometric traits so everyone can use them.
What are the advantages of biometric identification in ecommerce?
As we said before, biometric authentication uses a unique feature of our own person, such as fingerprints, facial features or voice, to identify us.
This provides different advantages when carrying out online transactions, such as contracting services or purchasing products:
Accessible to all: these features are available to all users.
Easy to use: until now, the most common way to identify oneself has been to use a pin or password. However, for this to be completely secure, it must be so long that it is often a challenge to remember it. With biometric identification, we forget about mnemonics and the hassle of not remembering the password.
Avoid phishing: With biometric identification, no one can impersonate another person.
It avoids fraud: As soon as we identify a biometric feature with a payment method, for example, we avoid falling into frauds such as phishing.
It cannot be stolen or lost: our traits are unique and non-transferable, so we cannot be victims of theft or lose them in an oversight.
Biometric identification at B2B Safe
At B2B Safe, the security of transactions between seller and buyer is our top priority.
One of the measures taken to protect the buyer is to include biometric identification by video call and official identification document for both buyers and suppliers.
In this way, we protect the user from possible fraud or identity theft when registering and increase the degree of verification of the trade.
Register with B2B Safe and start buying online from hundreds of suppliers with the highest security available.