Biometric POS market to grow at over 35 percent CAGR; Telpo updates terminal

The global market for biometric point of sale (POS) terminals could increase by $1.17 billion between 2020 and 2025, according to a new report from Technavio, at a spectacular 35.77 percent compound annual growth rate.

The report breaks down the market by technology and geography, and says the COVID-19 pandemic has spurred adoption of biometric POS systems. Restaurants are a leading growth area, for employee access, self-service transactions, and payments.

Telpo pitches multi-modal terminal for PSD2 compliance

In the same space, Telpo has updated its TPS900 biometric POS terminal to support multiple payment methods and ensure compliance with the Strong Customer Authentication (SCA) requirements of the Payment Services Directive 2 (PSD2) regulation.

PSD2 applies to the European Economic Area and the UK, and requires at least authentication based on a combination of three method categories, one of which is ‘inherence,’ or biometrics.

Telpo sees this as part of the spread of digital best practices for customer identity verification to prevent fraud, according to a company announcement.

The TPS900 mobile biometric POS terminal was first unveiled in 2019. The TPS900 Smart EFT-POS includes face, fingerprint and iris recognition, as well as QR code and NFC payment support. It features a 5.5-inch screen, with a Qualcomm chip running Android, and support for a broad range of financial certificates.

Article Topics

biometric payments  |  biometrics  |  market research  |  POS  |  TechNavio  |  Telpo