Biometric identification: the essence and risks of using the technology in the payment industry

The payment industry and the banking sector are currently actively implementing biometric identification technologies to provide banking and payment services. With all the intensity of the application and implementation of the technology in the current activities, credit institutions should not forget about the large list of risks that such a technology carries. The article deals with the cases of the manifestation of the risks of biometric identification technology that occurred both in Russia and abroad. In conclusion, the author suggests possible ways to minimize the risks.