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Tag: CONSUMER PROTECTION

Easypaisa Implements Fees for Failed Biometric Verifications in Pakistan

Raj Desai03 mins

Easypaisa has initiated fees for failed biometric verifications following new NADRA regulations aimed at increasing security in financial transactions. Users are charged for unsuccessful attempts while the Sindh government introduces mandatory biometric processes for vehicle registrations to enhance transparency and combat fraud. The policy details implementation phases starting mid-2024, signifying a wider commitment to digital…

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AuthID Introduces PrivacyKey for Secure Biometric Authentication Without Data Retention

Raj Desai03 mins

AuthID has launched PrivacyKey, a biometric authentication solution that does not retain any biometric data, addressing privacy and compliance concerns. The system validates identities efficiently during onboarding while ensuring that sensitive data remains secure. This development is timely given the rise in biometric technology usage and the tightening of regulations on data retention. AuthID Inc….

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Decentralized Identity Trials for Anonymity in KYC for Mainland Chinese in Hong Kong

Maya Rodriguez08 mins

A successful trial by Flare and Red Date Technology allowed 200 mainland Chinese in Hong Kong to anonymously register for regulated stablecoin services. The approach verified identities via the RealDID system while ensuring compliance with privacy standards. This system’s effectiveness in facilitating digital financial transactions highlights the potential growth of regulated blockchain markets in Hong…

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Customers Rush to Banks for Biometric Verification Before Regulation Deadline

Maya Rodriguez06 mins

Customers are increasingly visiting bank branches for biometric verification ahead of a new regulation that requires facial recognition by January 1, 2025. The influx includes many elderly clients facing challenges with online methods. While online verification involves logging into banking apps and using NFC technology, banks are accommodating in-person updates and extending hours to assist…

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