Tag: touch ID

Mobile payments strategy hinted at by Tim Cook

Apple’s CEO has placed the spotlight back on the ability to complete transactions with iOS devices.

Tim Cook, the chief executive at Apple, recently dropped some hints regarding a mobile payments strategy for the iPhone manufacturer, as well as for the use of the Touch ID feature that was recently added to their mobile devices.Mobile Payments Strategy

Though this was clearly not an announcement, it was certainly a hint about things to come.

Cook linked the idea of mobile payments with the Touch ID system technology that is included in the latest smartphone releases from Apple. When he held a conference call with analysts, discussing the earnings of the company, he stated that this is sector “we’ve been intrigued with,” and added that “It was one of the thoughts behind Touch ID.”

The feature was unveiled as a security enhancement but could also provide mobile payments verification.

The TouchID until now has been meant for making it easy and convenient to unlock the iPhones without having to enter a password. That said, ever since it was first seen, there have been speculations made regarding its potential use for verifying an individual’s identity if the device is used for making a purchase.

That said, Apple has not yet given any other online merchants the opportunity to use the device for making verifications of purchases. It has also not provided access to the fingerprint scanner of Touch ID to third parties. Equally, it hasn’t provided third party access to the Secure Enclave verification computing resources from A7 for any other reasons.

During the conference call, Cook did say that there has been a positive response from the public to the existing form of Touch ID functionality. He expressed that Apple is seeing that people enjoy being able to use it for verification in order to make purchases from the iTunes store. He said that they have been watching people liking the opportunity to purchase content ranging from books to music and movies. His description of the purchases using Touch ID was “incredibly simple and easy and elegant.”

More specifically, he did go as far as to say that in terms of mobile payments, “It’s clear that there’s a lot of opportunity here.”

Biometrics Analysts and Experts from Goode Intelligence, Biometrics Institute and NXT-ID, Inc

(OTCQB: NXTD) Discuss Recent Hacking of Apple’s (AAPL) Touch ID Fingerprint Technology and the Future of Biometrics

Point Roberts, WA, NEW YORK, NY – October 2, 2013 (Investorideas.com biometrics/ defense stocks newswire) Mobile Security Biometrics Alert: Investorideas.com, an investor research portal specializing in investor research in leading sectors, issues a follow up to its recent article , Analysts and Industry Participants Share Insight Into the Future of Mobile Security and Biometrics, following the recent reports of Apple’s Touch ID Fingerprint Technology being attacked by professional hackers. Alan Goode, Managing Director of GoodeIntelligence.com, Isabelle Moeller, Chief Executive at Biometrics Institute and Mr. Gino Pereira, Chief Executive Officer of NXT-ID, Inc (OTCQB:NXTD) share insight on the security of Apple’s (AAPL) Touch ID and the future trends in biometrics.

Apple bought its technology for $365 million from AuthenTec a year ago and in spite of hacking headlines, most analyst agree the biometric technology is very safe and secure for most users and the wave of biometric technology implementation will continue.

Alan Goode, Managing Director of GoodeIntelligence.com, who has been predicting the implementation of biometrics in smartphones for some time said “There is no doubting that Apple’s Touch ID can be fooled into accepting fake (lifted) prints but it does take a relatively high level of forensic and material sciences skills which will be outside the skills of most people. There is always a trade-off between security and convenience and I feel that for the one-touch capability of unlocking a mobile device, Touch ID does a very good job. Apple may need to review security measures if it wants to extend the functionality of Touch ID to enterprise and commercial applications. I
always maintain that two or multi-factor authentication is required to validate identity for high risk tasks such as making a financial payment. Apple may want to include a second or third factor for this type of function.”

Mr. Gino Pereira, Chief Executive Officer of NXT-ID, Inc. http://www.nxt-id.com/, who has over 30 years of executive, operational and financial experience with technology companies in the United States, Europe and the Far East agrees with Mr. Goode saying, ” there are varying degrees of security that are effective depending on the application. Password hacking can be done anonymously from a long distance, whereas hacking fingerprints requires a more complex personal attack. It requires more effort, equipment and personal access to the actual person; and because it’s so much more complex the payoff has to be worth the effort. Apple should be applauded for bringing innovative biometric technology to the consumer. ”

He also went on to say that using multimodal identification at the same time, such as password and fingerprint recognition creates a higher level of security.

His company is launching its innovative MobileBio™ suite of biometric solutions, starting with the Wocket™ an advanced secure electronic wallet that will use voice biometrics, later this year.

His company’s subsidiary, 3D-ID LLC deploys 3D facial biometric identification and has 22 licensed patents.

Isabelle Moeller, Chief Executive at Biometrics Institute released the following news earlier today addressing the iPhone fingerprint technology attack. They noted the group claiming success, known as the Chaos Computer Club from Germany has been involved in similar biometric attacks.

“The BVAEG – a subcommittee of the independent Biometrics Institute – consists of many of the most experienced experts in this area from around the world,” says Isabelle Moeller, Chief Executive of the Biometrics Institute, “the BVAEG mission is to raise awareness of the need for vulnerability detection to be included with biometric devices, to promote standards, enhance privacy protection, performance measures and testing, and to help facilitate the dissemination of new research or findings in this area.”

Their press release also quoted Tsutomu Matsumoto from Yokohama National University, a member of BVAEG, as saying “the current attack requires the lifting and processing of a high quality latent fingerprint at high resolution in order to make a successful spoof. These factors should be considered when assessing this attack’s impact
under realistic usage scenarios.”Mobile Commerce News - Biometrics Technology

The Biometrics Institute encourages manufacturers of equipment that include biometrics sensors to be proactive in adopting spoof detection technology to maximise the chance of successfully rejecting a biometric spoof, and also recommends government agencies and top-level decision makers be aware of the need for appropriate biometric vulnerability testing and certification as they consider both the risk and the convenience of the security mechanism(s).

In terms of the future most analyst see biometrics going mainstream and that Apple’s Touch ID has paved the way. Gino Pereira sees a future down the road where we will be wearing a device that will monitor us biometrically to provide access to everything we need.

Original Sept 16 th article:

Analysts and Industry Participants Share Insight Into the Future of Mobile Security and Biometrics


About www.InvestorIdeas.com: Big Ideas for global investors

InvestorIdeas.com is a leader in investor stock research by sector, featuring stock news, commentary and trading alerts in leading sectors.

Research Biometrics Stocks at Investorideas.com stock directory


Sign up for free stock alerts


Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedin today plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: Investorideas has been compensated by NXTD: five thousand per month plus 144 shares.

More info: http://www.investorideas.com/About/Disclaimer.asp

BC Residents and Investor Disclaimer : Effective September 15 2008 – all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Contact Information
or 212-822-8842

Note: This is a press release and in no way does it reflect the opinion of our publication nor is it a recommendation of any product or procedures.