Payment card industry embraces biometric tech
Biometric Technology Today · 2015
Mobile biometrics will generate $34.6bn in annual revenue in 2020, and will significantly disrupt the global payment market by providing alternative means of securing and processing mobile transactions, according to Acuity Market Intelligence. Biometrics will reduce both the risk and cost of payment processing as Acuity forecasts they will be used to authenticate nearly 65% of all m-commerce transactions in 2020. This represents 126bn biometric payment transactions generating more than $1.1 trillion in consumer m-commerce purchase value.