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Forecast: 1.4bn consumers will be using face recognition to authenticate payments by 2025

The number of consumers using software-based facial recognition to authenticate payments worldwide will reach 1.4 billion by 2025, up from 671 million in 2020, according to a forecast by Juniper Research.

The analysts say that the predicted growth “demonstrates how widespread facial recognition has become; fuelled by its low barriers to entry, a front-facing camera and appropriate software”.

They add that “despite the challenges to facial recognition during the pandemic with face mask use”, the implementation of Face ID by Apple has accelerated the wider facial recognition market.

The ‘Mobile Payment Authentication: Biometrics, Regulation and Market Forecasts 2021-2025’ research also predicts that while 93% of biometrically-enabled smartphones will be equipped with fingerprint sensors, only 17% will have hardware-based facial recognition capabilities by 2025.

In addition, it forecasts that the number of people using voice recognition for payments will increase from 111 million in 2020 to more than 704 million in 2025, but adds that voice recognition “is mostly used in banking, and will struggle to grow beyond this, due to concerns around robustness”.

– NFCW –

MK GROUP GRANTED CERTIFICATE OF SCIENCE AND TECHNOLOGY ENTERPRISE

At the end of February 2021, MK Group was honored to be granted the Certificate of Science and Technology Enterprise by the Ministry of Science and Technology. This certificate is the acknowledgement for MK Group’s ceaseless efforts in research, development and innovation of high-quality “Make in Vietnam” science and technology products by Vietnamese people.

By consistently focus on updating advanced scientific technologies all around the world from global partners, MK Group is not only investing in upgrading technological foundation, but is also building a professional and modern working environment.

Some outstanding products of MK Group were chosen to be listed in the Scientific Technology Product Category of Ministry of Science and Technology such as CES- Smart Card Personalization Solution; IMS software; KeyPass authentication solution; FIDO® KeyPass S1 and FIDO® KeyPass S3.

Since its establishment in 1999, MK Group has accomplished many valuable achievements in the field of smart card, security authentication, identification solutions,etc. Along with conducting our own research and scientific technology activities , MK Group also cooperates with some top universities of Vietnam including Hanoi University of Science and Technology, National Economics University,… to provide scholarship and internship programs./.

PASSWORDLESS AUTHENTICATION ADOPTION INCREASES ACROSS ASIA-PACIFIC

Government recognitions and production deployments of passwordless authentication technologies have increased across the Asia-Pacific region, The FIDO Alliance says in an update of progress since the July Asia-Pacific Marketing Forum (AMF).

Taiwan’s government has followed up the introduction of FIDO standards in official industry body documents with adopting the protocol for a tax service that supports more than 200,000 users. India has made FIDO2 authentication an accepted alternative to SMS OTP, and users are being authenticated to public services in Malysia through a FIDO-certified service from SecureMetric. Advancements of passwordless authentication with FIDO standards in Hong Kong, Vietnam and Japan are also reviewed.

There are more than 150 million people using passwordless sign-ins with Microsoft each month, the company announced in November, a 50 percent increase from a year earlier.

– Biometric Update –

Samsung, Mastercard partner to launch biometric payment card

The card will use fingerprint recognition to verify the identities of card holders and will be accepted at Mastercard payment terminals.

The sensor will be embedded on the device and will negate the need for a PIN when authorising purchases. Mastercard aims to leverage its cybersecurity expertise and global payments network to boost cardholder security via this biometric solution.

The card will first be launched in South Korea and will be initially offered to corporate clients that have more frequent international transactions. Samsung will begin issuing corporate cards to South Korean customers later in 2021.

– Thepaypers –

Announcement: MK Group – Hanoi Office Relocation

Dear partners and customers,

We are delighted to inform that MK Group Joint Stock company (MK Group) and our member companies:We are delighted to inform that MK Group Joint Stock company (MK Group) and our member companies:

  • MK Smart Joint Stock company
  • MK Vision Joint Stock company
  • MK Hi-tek Joint Stock company

have moved our headquarter from:

Floor 11-12, TTC Building, 19 Duy Tan, Cau Giay, Hanoi

to our new address:

The Vista Building, No. 4, 15 Lane Duy Tan Str., Cau Giay Dist., Hanoi, Vietnam

The Vista building is built and owned by MK Group.

Please contact MK Group and our member companies at our new address or reach us at (+84-24) 6266 2703 if you need any support. 

Thank you for your attention,

Sincerely

USA

MK Americas
2445 NE Division Street,
Suite 200
Bend, OR.97701

SINGAPORE

MK Smart Asia Pacific Pte. Ltd.
100 Tras Street, #16-01
The Amara Corporate Tower
Singapore

VIETNAM

Sales Office in Hanoi
11th - 12th Flr., TTC Tower, Duy Tan Str., Cau Giay Dist., Hanoi, Vietnam
Tel: (84-24) 6266 2703 | (84-24) 6275 0240
Fax: (84-24) 6266 2705 | (84-24) 6275 0239


Sales Office in Ho Chi Minh City
7th Flr., Thien Son Building, No.5 Nguyen Gia Thieu Str., Ward 6, District 3, HCMC
Tel: (84-28) 3930 5023 | Fax: (82-28) 3930 5065

FACTORIES IN VIETNAM:

Hanoi:
Quang Minh IZ, Me Linh
Tel: (84-24) 3813 4646 | Fax: (84-24) 3813 4648

Ho Chi Minh City:
I3-3, N2 Street, Saigon Hi-Tech Park, District 9
Tel: (84-28) 3736 1446 | Fax: (84-28) 3736 1447