A roundup of some of this week’s headlines includes biometric authentication news from PayPal and Trulioo, as well as a survey about the challenges of small and medium-sized businesses from WePay.
PayPal has further expanded its relationship with Google, announcing that Android Pay users can now make payments at online merchants using their fingerprints as authentication. The capability is available at online merchants who accept PayPal, for U.S. consumers who have linked their PayPal accounts to Android Pay.
“Mobile checkout remains one of the biggest sources of friction in the commerce experience, and we’re excited to collaborate with PayPal on enabling streamlined checkout experiences for all Android Pay and PayPal users,” Pali Bhat, vice president of payments products at Google, said in a blog post.
Leading payment facilitator WePay conducted a survey in which 41% of small and medium-sized businesses surveyed reported having cash flow issues. Most of the respondents (59%) said they would describe the financial impact of those issues as consequential or highly consequential, the company said.
The WePay SMB & Money Survey also found that 25% of SMBs had experienced a chargeback in the past year. According to the company, the respondents who handled payments within the software they used to manage their businesses reported fewer issues.
“It’s disheartening to see how many, and how much, small businesses are distracted by challenges related to collecting their hard-earned money” Tina Hsiao, WePay’s vice president of risk and chargeback operations, said in a press release. “Yet it’s also encouraging to see how software platforms with integrated payments processing are starting to fundamentally change the game.”
ID verification company Trulioo announced that it has added a biometric component to its GlobalGateway identity verification platform. Through a partnership with Mitek, the company uses facial recognition technology to compare a selfie taken by the users to the photo on an ID document to help verify the individual’s identity.
“Identity document verification with facial comparison enables an additional factor of authentication for high value transactions,” Stephen Ufford, CEO of Trulioo, said in a press release. “This new partnership with Mitek ensures our clients continue to have instant access to powerful tools for their fraud prevention and compliance systems.”
Payline Data was awarded Best Payment Facilitator Integration as part of the Electronic Transactions Association’s Tech Innovation Showcase Awards. The awards were presented at last week’s TRANSACT conference. This was the first year for the awards program, which was sponsored by PayPal.
Leading Indian payment facilitator Paytm announced that it has received its payments bank license and will launch the bank on May 23. In other Paytm news, The Economic Times reported that the company has signed a non-exclusive agreement to acquire digital payments platform FreeCharge.