Technological innovation has transformed the e-commerce industry by increasing consumer interest and participation. The positive change has resulted in enormous sales figures. As per the statistics in eMarketer, China reached almost $900 billion from e-commerce platforms, and the USA exceeded $423 billion in sales profits. In this way, the e-commerce industry experienced massive financial growth. Unfortunately, the advancement is also attracting fraudsters who want to exploit the sector for quick financial incentives. Criminals can use sophisticated techniques to achieve their malicious goals. In this light, the implementation of 3D liveness detection in security protocols can safeguard the industry from Presentation Attacks (PAs).
Facial Verification Solutions – A Quick Overview
AI-driven face authentication technology verifies the identities of customers in real-time. The state-of-the-art solution scans customers’ faces with the support of AI & ML algorithms, matching their faces with images in the data servers. This progressive approach is highly facilitative for the e-commerce industry because customers do not need to carry ID cards. Moreover, consumers do not need to go through lengthy IDV processes to achieve results. The addition of 3D liveness detection and AI-face mapping features discourages spoof attacks and deep fakes. The following section highlights the impact of Facial Recognition Technology (FRT) on the e-commerce industry.
Enhancing Consumers’ Shopping Experience
Real-life experience in a retail store facilitates interaction with the product and services. In the context of rapid digitization, the introduction of Virtual and Augmented Reality (AR & VR) technologies have facilitated e-commerce vendors with a remarkable opportunity to show their products in immersive detail. In this way, the experience is comparable to real-life stores. For example, Shopify and eBay introduced Virtual Reality (VR) department stores to achieve their goals. Shopify released its personalized virtual reality app to facilitate its customers. In this way, the combination of Virtual Reality (VR) & Augmented Reality (AR) can facilitate users to visualize the use of products in real-time and ensure a positive experience for consumers.
Utilizing 3D liveness detection in face verification technology can protect e-commerce platforms from fraud attempts. Fraudsters always want to get their hands on sensitive customer data and achieve their malicious goals. But FRT can deter criminals from exploiting the system with the help of a 3D liveness detection feature. In this light, genuine customers can enjoy the shopping experience without the risk of external attacks.
Transforming the Selling & Buying Process
Implementation of 3D liveness in face verification technology can facilitate both buyers and sellers. The state-of-the-art approach attracts genuine customers and retains them for longer periods of time. In this way, the latest technology contributes to the sustainable development of e-commerce platforms. E-commerce platform owners do not have to worry about security issues because of the 3D liveness detection feature. Hence, AI-driven FRT system streamlines the trading process for e-commerce businesses and facilitates the achievement of milestones.
Ensuring Seamless Payment Processing
Traditional payment procedures have been a bane for the e-commerce industry because sellers face issues when receiving payments from buyers. The main issues are that either the process is cumbersome or costly to incorporate in order to tackle orders worldwide. Another issue of fraudsters is also there because criminals can steal payment information from users and perform unauthorized transactions. The application of facial recognition technology can save time and increase security for users. This approach allows users to have complete ownership of their business processes. Hence, corporations can utilize this approach to bill customers securely, and modernize their payment process by saving time.
Reducing Cart Abandonment Cases
As per Statista, 6 in 10 women and around 40% of men engage in impulsive eCommerce transactions. In this light, any distractions/inconveniences during the process can discourage a potential buyer from making a purchase. According to a report, e-commerce stores lose 18 billion dollars in sales revenue yearly because of cart abandonment.
The implementation of facial payment technologies can deal with the above issues and remove frustration and fraud from the process. In this way, the e-commerce sector can boost sales easily.
Implementing state-of-the-art technologies such as VR, AR, and 3D facial liveness detection in FRT have transformative powers for the e-commerce industry. Hence, it is only a matter of time before the sector grows in multiple directions.
Concluding Remarks
The application of biometric verification technology has state-of-the-art features such as 3D liveness detection to deter fraud. The risk of cyberattacks and ID theft cases has led entrepreneurs in the e-commerce industry to implement AI-driven FRT solutions. This progressive approach generates high-quality results within a few seconds. Hence, the latest approach discourages criminals from bypassing the security protocols of organizations.
Facial spoof attacks include 3D masks, hyper faces, eye-cut, and paper-based images. The use of the FRT system can deter all types of fraud in real-time. The modern approach has an AI-mapping feature along with 3D liveness detection to validate user identities and deter PAs in real-time.
