MasterCard and Visa to end password authentication

This is an interesting article: MasterCard and Visa to end password authentication

Biometrics are starting to go mainstream as a means of authentication.  My one word of warning to anyone looking at biometrics as a form of authentication is to consider a “proof of life” requirement for biometric authentication.  If the stakes are high enough, there are many people who would not think twice about cutting off your finger to get to your bank account. If you think I’m exaggerating, I urge you to consider the problems of human trafficking, organ trafficking, and genocide.  Cutting off a finger is small potatoes compared to that stuff.

On a less gory note, it has become clear to me that single-factor authentication is no longer sufficient.  You might be able to make a case for it in low stakes environments, but multi-factor is the way to go anytime your identity, cash, or reputation is involved.  Google and Apple have multi-factor authentication and you should use it.  Yes, two-factor authentication can be a bit of a hassle.  However, that hassle is nothing compared to the hassle of removing a fraudulent charge from your credit card, loosing your checking balance through your debit card, or trying to clean up your reputation after your identity has been stolen. I see two-factor authentication as a Time Asset in the larger perspective.  I think you should consider it as such also.

Feel free to argue in the comments.

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