PopID expands with biometric POS kiosk integration; market growing too
New research is out showing that the global market for payments by face well into double digits between now and 2028. And, indeed, PopID has just integrated its mobile app for face biometric payments with point-of-sale software on Samsung kiosks.
Research published this month by Research and Markets supports the hope that consumers’ unease over the security of biometrics is being overcome by reassurances and the convenience and hygienics of face scans in stores.
Between 2022 and 2028, according to Research and Markets, the “face-swiping payment market” (There might be a better name there.) will have grown to $11.9 billion. That would be a compounded annual rate of 17.4 percent.
PopID‘s efforts at expansion certainly feeds into that narrative.
The company, which describes itself as a biometric fintech, has finished integrating PopPay with XPR‘s POS software loaded onto Samsung’s kiosk Windows 10 IoT enterprise hardware. The software will verify faces at checkins and checkouts.
Describing its PopPay Check In application running on fast-food restaurant kiosks, PopID says it can increase the size of food orders when algorithms recognizing a consumer first shows them their typical order and suggests an additional item.
The company says “statistically significant data” indicates that consumers spend an additional 4.5 percent when they make their usual order and are presented with another item that is in some way related to past orders.
PopPay could be attractive to retailers, including restauranteurs, because it has been able to decrease processing fees. The company claims to have created new ways to transfer money and settle transactions that shrink the fees.