Juniper Research claims that biometrics such as fingerprint, iris, voice, and facial recognition, will be used to authenticate payment transactions of more than $3 trillion by 2025. Boosting the demand for biometrics is the use of OEM Pays that include the likes of Apple Pay and Samsung Pay, which already offer the functionality. Since the coronavirus, there is exponential demand for contactless options as the favoured method of paying.
#Biometrics to secure over $3 tn in mobile payments by 2025; driven by shift to app-based #mCommerce.
— Juniper Research (@juniperresearch) February 1, 2021
The extraordinary growth of over 650% will be fuelled by OEM Pays (such as #ApplePay and #SamsungPay), for remote and in-store payments.
Find out more: https://t.co/XyTrxwIS4Z pic.twitter.com/ORgMvIyPSk
About the Author
-
ISBuzz Team embodies the collaborative efforts of the dedicated staff at Information Security Buzz, converging a wide range of skills and viewpoints to present a unified, engaging voice in the information security realm. This entity isn't tied to a single individual; instead, it's a dynamic embodiment of a team diligently working behind the scenes to keep you updated and secure. When you read a post from ISBuzz Team, you're receiving the most relevant and actionable insights, curated and crafted by professionals tuned in to the pulse of the cybersecurity world. ISBuzz Team - your reliable compass in the fast-evolving landscape of information security