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What You Can Expect For Fintech Surge 2022

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With less than one week to go for the Mega Event – FINTECH SURGE 2022, We at BIO-IDZ are super excited for our presence at one of the biggest events in Dubai. With the whole team of BIO-IDZ in full swing to make this event count, this extravaganza would be one to watch out for with thousands of expected visitors at the World Trade Center, Dubai.

Our Main Events Goes Like This..

Being the gold sponsor for FINTECH SURGE 2022, BIO-IDZ is all set to grab the eyes of every visitor with our events planned out to the smallest detail to our biggest launches. We have always believed in the power of innovation & technology, and that’s what you will be witnessing at our presence throughout the event.

đŸ”»Find us at Z4-J88

The Big Launches Like Never Before

1.    #bpay Product Launch

From watches and keyfobs to bracelets & charms, you name it we have designed our wide range of fashion wearables incorporated with our payment chips with best known functionality.

2.    Launching #bpay on Pay In Fashion – World’s First E-Com Marketplace for Payment Wearables

What You Can Expect For Fintech Surge 2022

Abdulla Ahmad Abdulla Mohammad Al Qassim, CEO of IMS at Al Rais Group will be launching the wide range of #bpay products into the world’s first e-com marketplace solely dedicated for payment wearables.. Pay in Fashion is an E-com site that features payment wearables from the most trusted brands that specializes in contactless payment technology.

There is more to this.. we are launching our limited edition of #bpay products bundled with FIFA World Cup Merchandise on FinTech Surge 2022. Excited much😍?!

3.    World’s First NFT for Fashion Tech

What You Can Expect For Fintech Surge 2022

Yes, its true! We are launching the world’s first NFT for Fashion Tech. #bpay product will go live on NFT platform at one of the biggest events that celebrates the endless opportunities created by Finance & Technology.

HEAR THE EXPERT SPEAK..

Ranjith K Shyamaladas, Founder & CEO of BIO-IDZ comes with an expertise of more than two decades in technology,payments & identity. He is a true visionary & a serial entrepreneur who will be featured in panel discussions & keynote speeches through the event.

What You Can Expect For Fintech Surge 2022

To give you a little insight about Ranjith, lets hear it in his own words,

“ An Entrepreneur is an entity which has the ability to find and act upon opportunities to translate inventions or technology into new products. The entrepreneur is able to recognize the commercial potential of the invention and organize the capital, talent, and other resources that turn an invention into a commercially viable innovation. This is what an entrepreneur means for me and what I am too 😎 “

Dont forget to attend his keynote speech on :

“ BRINGING A FASHIONABLE TOUCH TO FINTECH”

13th October  –  11.15 am

“FASHION TECH IN THE AGE OF WEB3”

13th October  –  2 pm

SURPRISES ARE ON ITS WAY TO FINTECH SURGE

There is no fun in revealing everything that is going to happen.. So we have some huge launches that we would love the visitors to come & witness at Fintech Surge 2022. We are also excited to announce our partnerships with few of the biggest names in the field of Fintech during the event.

We are sure that you will love our surprises as much as we loved to prep for it..

As the Excitement grows bigger..  and the Big Day inches closer..

Don’t forget to Meet us at Booth No. Z4-J88 on 10 October

metaverse2

5 reasons why Metaverse Fashion will be ‘Bigger’ than ‘Offline’ fashion

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Enter the world of NFTs, fashion wearables and accessories for tomorrow’s ‘Meta Environments’!

Fashion has always served as a reflection of society’s most flamboyant instincts and every generation from the ‘boomers’ to the ‘millenials’ have had those that pushed the boundaries of what is considered the ‘norm’.

Today’s ‘digital society’ is no different. An entire generation of young folk (Gen Z/Alpha) are starting to redefine what fashion can be and it’s taking the whole of the online world by storm. Unlike their predecessors, today’s youth live and breathe online and with some of their lives being played out within the digital world, fashion and fashion trends have also begun to make a shift.

When Mark Zuckerberg the CEO of Facebook first began to speak of the ‘Metaverse’ not very long ago, the signs were already there that the current and future generations would be spending a disproportionate amount of time in cyberspace!

5 reasons why Metaverse Fashion will be ‘Bigger’ than ‘Offline’ fashion

Here are 5 reasons why fashion in the Metaverse will be bigger than anything we have known so far:

1. Technology will drive tomorrow’s fashion trends:

For the longest time ever, technology was considered geeky while fashion was trendy! Their followers simply didn’t overlap. But all of that is changing with the emergence of the Metaverse. Brands, especially fashion brands are flocking to release their digital fashion accessories and wearables. While there are those who still cast aspirations of this phenomenon, one thing is fast becoming clear – If we are to spend so much of our life online, we must at least appear ‘cool’ doing it!

2. The rise of NFTs:

While online gamers have long been familiar with “skin” or digital attire – to be purchased within the game environment, using real money, NFTs or Non Fungible Tokens really shot to prominence during the pandemic. While the physical world lay frozen thanks to Covid, the Metaverse offered opportunities for people stuck at home to “travel” or “hang out” and of course while doing so, one must look good. NFT sales grew from just under $ 30 million in 2021 to over $ 10 billion in 2022.

3. It’s Pro Environment:

With so much focus on global warming, it is but natural that every industry including the Fashion Industry is looking to reduce its carbon footprint. Wearable NFTs are extraordinarily pro environment, emitting upto 97% less carbon dioxide than physical cloth.

4. It’s extremely inclusive:

One of the great challenges that has always confronted the fashion industry is that their subjects are rarely homogeneous. Differences in body types, climatic conditions, culture and appeal across the world have always presented barriers to a uniform fashion code. The Metaverse can change all of that, as digital avatars can be customized according to the user’s specifications and can ‘wear’ literally any kind of apparel within the digital ecosystem.

5. It’s just getting started:

Even though it’s a radical idea for most people, brands like Nike, Adidas, Gap, and Crocs have entered the NFT market with wearables. Incredibly, the digital fashion industry is estimated to grow to $ 56 billion by 2030.

contactless biometric card

New Norm Is Contactless In An Era Of Social Distancing

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Imagine a world where contact was the norm. To settle a purchase whether, by cash or payment card, a person has to come in contact or at the very least get into each other’s personal space at the cash counter. Now interject the word “social distancing” into the world. Suddenly your cash and your payment cards have taken on an ominous avatar. On an average, depending on the denomination, a currency bill circulates among people for 8 – 15 years. The number of hands the bill that has passed through is unimaginable. Then there are the POS machines and the ATM terminals, where the risk of infection is the highest. And so, this is when the change of guard happens. An era belonging to the contactless biometric card is been ushered into a world where social distancing has become the new norm.

And the world adjusts, albeit, uneasily into the newly changed etiquettes of society. Contactless payments are changing the landscape of commodity purchases by becoming the numero uno in payments & deliveries. Due to the fast-spreading character of Covid-19 just by contact on surfaces, it has created an interest in contactless biometric payment solutions. Even though the banks are increasing the cap on contactless payment cards, there is a section of skeptics. They fear they might fall prey to the fraudsters who will be out to take advantage of the higher payment ceiling. But these fears can be allayed by adding a contactless biometric security feature to the card. This will be in the form of the user’s fingerprint. The user’s fingerprint acts as the PIN and the payment goes through after the identity is authenticated and verified – at a distance. Fast, Secure & Convenient.

Future is contactless biometric

Biometric payment solutions have made vast strides in fraud detection and prevention. Fast forward to a world rid of Covid-19. Contactless biometric card is going to be the premier medium of payment solution. So, the question is – Will we look at the paper currency the same way again?

Bio-idz – Your Biometrics, Your ID.

biometric emv card

Biometric Payment Card Misconceptions Demystified

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The germ of an idea involving fingerprint identification of individuals originated in the late 16th century Europe. The evolutionary journey of the fingerprint started from inking on contracts and deeds in an analog form to the digital era. Its used by law enforcement and security industries and more recently on smartphones. Above all it has made quite an impact on the biometric emv card. Once upon a time in the realm of science fiction, now contactless fingerprint emv card is a reality.

A customer’s fingerprints used as the alternative to the PIN currently existing in payment cards (emv cards). These fingerprint emv card used at the POS (Point of Sales) are at a safe and secure distance. The customer places their finger on the sensor area embedded in the card. The card scans the fingerprint and compares it with the stored digital image and if it matches, the transaction’s approved.

But this is new technology and as is wont, when it comes to the security of an individual’s hard-earned money and there are some myths associated with the fingerprint enabled fingerprint emv card. The realities associated with some of the myths laid bare below.

BIOMETRIC PAYMENTS MYTHS & REALITIES:

1) Myth: Card stores the picture of the fingerprint.
Reality: The encrypted image stored in a series of digital 1’s & 0’s and not an actual picture. So the original image can’t be reverse-engineered.

2) Myth: The biometric data shared with every merchant.
Reality: The biometric data stored on the chip and so never leaves the card

3) Myth: The battery embedded in the card needs charging periodically.
Reality: So an electromagnetic field generated by the payment terminal provides the power needed by the card.

4) Myth: If dirt or sweat clings to the biometric emv card and the transaction will fail.
Reality: If biometric verification fails after multiple attempts due to some unknown reason. And the card will switch to PIN verification to authorize the transaction.

5) Myth: If the card’s stolen/lost, all the money stolen through contactless transactions.
Reality: A PIN entered from time to time to verify whether the cardholder is genuine.

6) Myth: Payment can be accidentally triggered for someone else if walking close to the contactless payment terminal
Reality: There is no chance of ending up paying for someone else’s transaction. Because contactless biometric emv card work
only and when they are a few centimeters away from the payment terminals

The myths can go on and on but in reality, every question’s answered, and all myths demystified. In conclusion, Customers & Merchants, All hail the new kid on the digital payment block – The Contactless biometric EMV Card.