According to Mr. Arun Kumar, regional director of ManageEngine, algorithmic technology and artificial intelligence could be used to create fake palms.
” Measures, such as liveness monitoring, need to be in place to identify whether there are spoofed or impersonated names”, he said. The term “liveness recognition” refers to methods for determining whether someone is alive and well.
Additionally, businesses must make sure their devices are safe and secure.
” While people can change a stolen credit card, it would be challenging to change one’s finger if their genetic information is stolen”, he said.
Because they use the hand display and the vein pattern, according to Mr. Chua Zong Fu, mind of Ensign InfoSecurity’s managed security services.
However, it is still another collection of personally identifying details. It raises comparable privacy concerns, which could lead to illegal tracking or security if taken advantage of.
IS SINGAPORE READY FOR PALM PAYMENT?
Besides safety issues, another challenge could be the cost of setting up pay-by-palm models in shops, said Mr Chua.
” Palm payment systems calls for new technology to become purchased by retailers. Mobile products are not able to directly conduct pay-by-palm”, he said.
Some stores might even discover that the equipment, which is about the length of a laptop, do take up space on their countertops.
He noted that consumers are beginning to accept contactless payments, even for varieties that require biometric authentication, such as biometric or facial recognition.
However, the added ease of pay-by-palm may be limited because the majority of people carry their wireless devices around and can now use those funds for payments.  ,