Gambling Embraces Digital ID and Biometric Payments

March 11, 2024 | Financial

TORONTO, ON, Canada (March 8, 2024) — The European gaming industry has voiced its support for the EU’s digital identity scheme. In a dated post on its website, the European Gaming and Betting Association (EGBA) says the European Parliament’s recently passed regulation introducing a new European digital identity (e-ID) will improve consumer trust by doing away with the need for third-party commercial authentication providers.

“We welcome the European Parliament’s approval of a unified digital identity framework and are confident that the use of the new e-ID in our sector will lead to a more seamless and trustworthy online experience for players and help to reduce costs and administration for gambling operators,” says EGBA Secretary General Maarten Haijer. “This innovative tool represents an important step towards building a more secure and user-friendly digital ecosystem, aligning with EGBA’s core objectives of promoting integrity, transparency, and a safe, consumer-centric playing environment.”

KT Group advises diligence and transparency for biometric payments systems

A release from KT Group, a self-service kiosk and digital signage firm based in Denmark, agrees with EGBA that the key to successful digital payments in gaming, particularly those methods that use biometrics, hinges on balancing innovation with security and a strong base of trust.

Arguing that the success of biometric payment tools hinges on their ability to protect sensitive biometric data from exploitation, KT Group’s Kenneth Larsen says “the emergence of biometric payment technologies represents a significant milestone in the evolution of payment ecosystems” – but qualifies that, “as we embrace these innovations, it is essential to remain vigilant and proactive in addressing the challenges they present.”

Larsen uses contactless payments using palm biometrics – or palm payments – as a case study that backs up his thesis. Stringent authentication measures are required to safeguard against threats such as identity theft and data breaches. But Larsen believes that it is imperative to prioritize consumer privacy and security above all else, ensuring that palm scans and other types of biometric data are handled ethically and transparently, regardless of how convenient any short cuts might seem. Widespread adoption will only come with initial deployments that put diligent security and data privacy measures first, in order to build lasting trust relationships with customers. Proceed, he advises, with caution and foresight – and always maintain transparency and accountability.

“By fostering collaboration among industry stakeholders, advocating for robust security measures, and prioritizing consumer privacy,” says Larsen, “we can ensure that biometric payment technologies serve as a force for good, enhancing the payment experience while safeguarding the trust and confidence of consumers worldwide.”

SOURCE: Biometric Update.

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