Remote transactions need to be authorized.
Identity needs to be extended into the digital world and protected against being compromised.
Centralizing the proof-of-identity is vulnerable, credentials are massively stolen every day.
Useable passwords provide only inadequate security, good passwords are impractical.
In general passwords are vulnerable to phishing and other attacks.
Serious anti-spoofing as provided by secure PIN-Pads is expensive and difficult to deploy.