FB pixel

Biometric payments to see adoption momentum in 2014: report


Research and Markets has announced the addition of a new Javelin Strategy and Research report on biometrics in the banking and payments sector to its catalogue.

Titled, Biometrics in Banking and Payments: Versatile Voice Faces An Apple-Led Fingerprint Revolution, the new report suggests biometric systems may finally make a breakthrough in adoption figures. “Several aspects of the consumer technology have conspired to facilitate biometrics’ deployment at the same time as providers are working out the kinks which have impeded their effectiveness,” the company said.

That being said, the group says the major obstacle to the proliferation of biometrics will be consumer trust. However, financial institutions which face this challenge can partner with merchants to pave the way for acceptance.

In terms of which topics the new report specifically tackles, Research and Markets lists the following: Which form of biometrics technology do consumer prefer?; Which features do consumers consider important for biometric authentication?; What issues are affecting adoption among financial institutions and merchants; How would the use of biometrics affect consumer online banking frequency; How would the use of biometrics affect consumer e-commerce shopping frequency?; Which biometric solutions are best suited to authenticate consumers during online applications?

According to separate research from the Biometrics Research Group, biometric technology has been projected to cut bank operational risks by 20 percent, following adoption over the next ten years.

In addition, the group estimates that mobile commerce will drive millions of biometric smartphone shipments as well as billions in transactions. 

Article Topics

 |   |   |   | 

Latest Biometrics News


Smile ID surges past 150M identity verifications completed

Selfie biometrics provider Smile ID (formally Smile Identity) has achieved the completion of 150 million identity verifications – five months…


Incode age assurance gets stamp of approval from ACCS

Incode Technologies has announced that their Incode Identity Platform product has received certification under the Age Check Certification Scheme (ACCS)….


Arana launches police biometrics app for HID scanner

Arana Security has launched a new mobile app for mobile biometric fingerprint readers from HID used by law enforcement. The…


Fraud hammers online services, drives AI ambivalence

Fraud rates are spiking just like temperatures in many parts of the world. Global identity verification companies Sumsub, AuthenticID and…


Contractor distances self from biometric device failures in South Africa elections

A Johannesburg-based company, Ren-Form, which supplied biometric hardware to the Electoral Commission of South Africa (IEC) says it is not…


Online age verification requirements in US legislation raise thorny problems

More than a dozen bills have been introduced in the current U.S. Congress that, if enacted, would increase protections for…


14 Replies to “Biometric payments to see adoption momentum in 2014: report”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events