Rob, there is information published on credit card company losses to fraud each year. They have been improving their detection systems, and driving down fraud rates, but the total that Visa and Mastercard lose to fraud each year is about $1,000,000,000. This would pay for a lot of biometrics, so long as the price keeps dropping to make it worth their while. I'm sure they have their eye on this technology, especially if they perceive fraud rising in absolute terms as a result of Internet transactions.
The best case scenario for IDX is a massive buy by Mastercard. I also think there is a more direct business case to be made for biometrics in access and control applications, since the user gets the immediate benefit of walking through the door and 'owning' the door -- compared to the PC market, where the person communicating with the user gets the real benefit.
You are correct, however, that biometrics competes with smart cards/passwords in the security markets. |
