Viewpost study finds US consumers looking forward to face, voice recognition payments
Online invoicing and payment firm Viewpost has released the results of a new survey that finds that people are looking forward to paying companies with mobile apps and technologies such as face and voice recognition, according to a report by International Business Times.
The survey, which is based on the responses of 1,000 U.S consumers, finds that more than half of American believe that payments between companies and customers will soon be conducted through mobile apps.
Additionally, only 11 percent of respondents think companies will bill them by paper in the future, while 54 percent believe companies will bill customers through automatic payments from their bank account or credit card.
“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 innovations like biometrics, data integration, and a growing variety of payment methods to securely drive more volume with visibility, speed and simplicity.”
The survey also finds that 80 percent of Americans are looking forward to future payment technologies and are interested in using technologies such as sensor fingerprinting, facial recognition, retinal scanning and voice control.
Meanwhile, 20 percent of respondents say currencies like bitcoin will be a practicable option within the next decade.
Fifty percent of respondents believe that fingerprint technology will be used for authentication to pay and receive payments over the next decade.
Thirty-five percent of consumers view facial recognition as a vital authentication technology for making payments within the next decade, while 32 percent say they trust the technology for securing e-payments.
The survey states that while some people are already using iris scanning to make payments with Samsung Pay, facial recognition technology still needs some work for it to be completely secure.
Viewpost finds that 31 percent of consumers view retinal scanning as a feasible technology for verifying payments, while 18 percent say they would use voice control to make purchases within the next 10 years.