Is there a tool that can be used to simulate credit card payments?

Why is biometrics technology like finger printing, face recoginition etc is not being used in credit card  payments so as to reduce the risk and hence reduce the cost of transactions?

• Using camera or new finger print technology during online transaction or during POS also will have ability to reduce fraud transaction and have a way to reduce risk for "card not present" and hence reduce risk?

• Answer:

  We'll get there eventually, but payments technology tends to change very slowly (especially in the US) for a number of reasons: Current technology is "good enough". Issuers are generally liable for fraud losses, and the cost to them is manageable. Networks don't have much incentive to develop such technologies. Even if they did, most networks have very old technology stacks (i.e. IBM mainframes, JCL, COBOL) which make them slow-moving. Even if networks developed the technology, merchants are reluctant to pay for replacement terminals, unless there's a significant incentive to do so. Just look at EMV, which was pioneered in the mid 90s. It's now a mature, proven technology with obvious advantages over magstripe, but it still has low adoption here in the US. This will eventually change with the Oct 2015 liability shift, but considering how long it took, don't expect to see facial recognition capable terminals here any time soon.