Biometric authentication will be an increasing important in counteracting the online fraud, with the technology playing a vital role as a result, says Juniper Research.Rising spending on the technology needed for online fraud detection will see the market's value hit $9.2bn by 2020, particularly as fraudsters increasingly target mobile payments, the group has found in a new study.”Digital security companies regard the mitigation of mobile fraud as a key revenue generator in the medium term,” claimed report author Gareth Owen. He argued that this was driving the development and implementation of advanced biometric authentication technologies which the companies claim can make mobile purchases as secure as any other web-based transactions.In a survey of fraud detection solutions, 'Online Payment Fraud: Key Vertical Strategies and Management 2016-2020', the group found that the leading solution vendors were now capable of reducing fraud levels down to less than 0.1% of transaction values in some key eCommerce verticals.Just last week, the research firm Lux also noted that mobile payments need biometrics to improve user experience and adoption.”After failing to live up to hype in 2015, mobile payments should embrace innovations like multi-modal biometrics to provide ease of use and security consumers seek”, says Lux Research.”Companies developing biometric authentication products need to build partnerships or innovate and consider multimodal biometric platforms to stay in the game,” said Tiffany Huang, Lux Research Associate and lead author of the report titled, “Securing Mobile Payments with Biometric Authentication.”