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| Pay By Touch Online may be a new solution to prevent phishing. (EnGadget) |
Many internet users are hesitant to conduct transactions online due to concerns about account information theft. Therefore, Pay By Touch, based in San Francisco, USA, has decided to develop a new system to reassure online shoppers.
The Pay By Touch Online service combines biometric hardware with users’ fingerprints to identify individuals performing transactions. The company hopes that these fingerprint scanning devices will become commonplace as early as 2006 and that customers will accept them as the sole means of online shopping. However, this will depend on whether consumers are willing to pay extra for the supporting hardware.
Observers believe this is an intriguing and promising idea. Fingerprint reading technology will compel cybercriminals to implement additional complex steps if they wish to successfully steal accounts. The cost of purchasing hardware may deter some individuals from engaging in e-commerce, but those who have been victims of online scams will find Pay By Touch Online to be a much-anticipated system.
