Study finds Americans support biometrics-based payment systems
Viewpost released the results of a new survey covering American consumers’ perceptions about “futuristic” payments technologies and currencies, including biometric solutions such as fingerprinting, facial recognition, retinal scanning and voice control.
After surveying 1,000 U.S. consumers, Viewpost found that 80 percent of Americans are in support of biometrics-enabled payments technologies and currencies.
The study found that 52 percent of respondents believe that payments between companies and customers will be exchanged via mobile app in the future.
Based on the survey results, U.S. consumers are highly anticipating futuristic currencies and payment technologies, particularly biometrics.
The survey found that 50 percent of respondents believe fingerprint technology will be used for authentication to pay and receive payments over the next 10 years.
Thirty-five percent view facial recognition as a key authentication technology for making payments within the next ten years, while 32 percent of consumers said they trust facial recognition for securing electronic payments.
Retinal scanning and voice control technologies have gained traction in consumers’ consciousness, with 31 percent of respondents citing retinal scanning as a viable technology for authenticating payments and 18 percent seeing themselves using voice control to make payments by 2027.
“People are willing to embrace a more convenient, frictionless payments future,” Viewpost CEO Max Eliscu said. “Paper invoicing and checks are well on their way out in the consumer setting, and more businesses across the spectrum are beginning to follow suit with transactions among their trading partners.
“But electronic invoicing and payments are just the beginning — the future of the payments industry is highly dependent on leveraging innovation like biometrics, data integration, and a growing variety of payment methods to securely drive more volume with visibility, speed and simplicity.”