Are you always forgetting your passwords? If the answer is yes, perhaps you should know that payment methods of the future will have to abolish alphanumeric passwords.

As new technologies appear, it all indicates that these passwords will be replaced by bio validation systems: voice pattern, fingerprint and even heartbeat that could be transformed into signatures. The forecast is from the Brazilian Cyber Security Association (Abraseci).

According to Hiago Kin, CEO of Abraseci, just like most smartphones that already allow making digital payments through fingerprint and face recognition, the perspective is to expand today’s product options and improve the process of understanding and recognizing human patterns to eliminate passwords.

Open Banking and Fintechs encourage new ways of transferring money

It is really common to see that many Brazilians still walk around with only physical money. However, the arrival of Open Banking (that allows sharing data between financial institutions) and the FinTechs boom – boosted by the digital transformation and the Coronavirus pandemic – encouraged the emergence of new ways of transferring money. 

Talking about Open Banking, it is worth highlighting that the encouragement was so big that Brazil is now a LATAM leader in bank digitalization, one of the only – if not the only one in the region – to adopt the PIX, a payment method created by Banco Central that can be performed without any costs.

Digital Transformation and the digital payment methods of the future

Today, at least in large urban centers, it is very rare for us to be surprised by payments made with machines that accept cards, cell phones, smartwatches or bracelets; PIX or QR Code. In the future, the trend is for fewer and fewer people to find these means of payment strange.

According to data from 2021 of Juniper Research, more than 4,4 billion people will have adopted digital wallets until 2025. Such theory can be reinforced by recalling the Digital Banking survey: Banking-as-a-Service, Market Transformation & Forecasts 2021-2026, also conducted in 2021. The survey estimates that, until 2026, more than half (53%) of the world population will be using bank digitalization.

The same survey from Juniper Research also suggests that QR code will represent 40% of operations, due to its ease of use and acceptance.

Technologies should evolve, but will never be totally safe, experts alert

According to digital transformation experts, the technologies involving the payment methods of the future should evolve to the point where security systems are able to recognize a person just by putting together pieces of information. This means not depending on the human memory (and its failures) to memorize passwords.

According to them, digital payment applications, in general, are safe, because the financial system is one of the most investing in digital security in the world. However, these professionals highlight that in the digital environment, it will never be 100% security.

“Surveys proved that every 39 seconds a new attack occurs somewhere on the web. It is fundamental that executive leaders understand that as technologies and resources evolve, hackers and digital criminals’ abilities are also improving. Therefore, it is imperative that companies invest in effective solutions to guarantee the security of internal and customer data”, warns Ântimo Gentile, CEO at DNK Infotelecom.

Another tip from the experts is having extreme caution with smartphones and avoid lending them to third parties.

“Cell Phones tend to be the digital wallet of a large part of the population. It is on this device, until then, harmless, that will be all your data and payment information. Today, no one that has R$15,000 goes out with this money and announces that it has this amount, but they forget that the access to this amount is on the cell phone. Saying that, my advice is avoiding to lend your cell phone to third parties as much as possible, especially when the main screen is unlocked to avoid fraud such as SIM SWAP“, guides Gentile.

DNK is the market’s number one in omnichannel solutions integrated to the APIs of the main applications

Aligned with the market needs, DNK offers the best solutions for Call Centers and Contact Centers connected to the APIs of the main social medias and applications, like WhatsApp. To do that, the company relies on the use of state-of-the-art technologies and a team of experienced professionals.

In addition to maximum excellence and security in customer service, DNK values compliance with the standards required by the General Data Protection Law. For that, the company provides their partners with tools and platforms with innovative and customizable functions, with the option of storing data in the cloud, which considerably reduces the chances of information leakage.

DNK cherishes excellence in customer service, providing their partners with tools and platforms with innovative and customizable functions in order to guarantee a satisfactory and unforgettable Customer Experience.

With DNK’s services and products, the customer service is humanized and provided through an integrated omnichannel platform, which connects all service channels (whatsapp, voice, web, chat and others) with fast recovery of client’s information and data, in order to offer a complete and satisfactory management of the client journey with differentiated results.

The company is recognized by the market and awarded for solutions and successful cases. Champion of the “Best self-service Solution” category in the XXI Modern Consumer Award and winner of the silver trophy in Client SA 2020 Award in the category “Leader in Innovation Strategy”, in partnership with a client, DNK understands that a well-attended customer is the secret for the success of the service.

SIM Swap Check: solution helps companies to avoid bank frauds and reinforces partnership between DNK-Infobip

To help companies to mitigate the risks of SIM Swap, Latin American companies can count with the SIM Swap Check solution.

The solution, provided by our partner, Infobip, consists in checking if a cell phone number recently changed SIMCard, which can be an indicator of a subscription fraud.

Based on personal data obtained through phishing or other social engineering means, criminals can pass as the victim and steal their phone numbers in operator stores. When a new SIMCard is activated, the crook installs financial apps and tries to log into the victim’s accounts. Some apps offer the solution for proof of identity by sending a password via SMS to a registered number. As the criminal is temporarily controlling the victim’s number, he receives the token by SMS and accesses the bank.

Through the SIM Swap Check, the banks check with the screens, in real-time, if a determined number changed the SIMCard in the last 12 or 24 hours. In a positive case, can take prevention measures, like requiring other ways of authentication to validate a transaction or simply block it.

Having understood the importance of ensuring the security of customers and companies’ information, DNK understands the importance to ally with strategic partners, like Infobip, to offer what is the best in customer service, with maximum security and respect for the standards required by the LGPD.