The head of the SDM-Bank project “Digital Payments and Payment Methods” Stanislav Savelyev assessed the prospects of introducing bioacquisition into the biometric services platform of the National Payment Card System (NSCP). The development of said system is already underway.
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According to Savelyev, the bank is studying the introduction of biometrics. Participation in the NSPK project will make this process easier and cheaper.
“It will cost us much more to create our own biometrics than other retail banks. It will have to be obtained through partnerships with other banks, if the rules for working with biometric data allow this. Also, it is definitely not free,” Savelyev noted. The expert did not mention how much the introduction of biometrics could cost the bank.
SDM Bank’s target clients have always been representatives of small and medium-sized businesses and, less often, the corporate sector. However, if the NSPK project is implemented, the bank is ready to come on board and implement biometrics as its POS equipment enables bioacquisition.
Savelyev believes that the implementation of the project should be accompanied by a large-scale educational campaign to teach and alleviate citizens’ concerns about the use of their biometric data, including for making payments.
“From the point of view of the customer journey for a product of this type, it is important to make it simple and comfortable for the end user. It is necessary for the payer to understand how payments will be authorized, which card or bank account balance will be debited, and whether bank loyalty programs and cashback will continue to work,” Savelyev said.
According to the expert, at the moment there is no clear understanding of how this payment method will be implemented in e-commerce. It is important for developers to take into account the development of technologies that simplify the activities of fraudsters, for example, generative neural networks and artificial intelligence.
“The NSPK project is standardization for all banks in the market, that is, a unified infrastructure on which the biometric payment product can be developed. In this way, the initial position of the banks is equalized, that is, the NSPK will provide an understandable and accessible path for the introduction of bioprocurement,” Savelyev concluded.
Author:
Ekaterina Strukova
Source: RB
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