Biometric Update: Biometric payment cards’ path to mass market
11 February 2019
While mass adoption of payment cards with fingerprint sensors may happen soon, exactly when, and who will take what share in the market, is an open question.
There is a general consensus among fingerprint sensor providers and other stakeholders that millions of payment cards will be secured with fingerprint biometrics within the next few years. The early trials of biometric payment cards in 2018 are, as recently reported, widely expected to be followed by more trials, with certifications and initial production roll-outs planned before the end of 2019. Goode Intelligence predicts the market will reach 579 million units by 2023, and the enthusiasm with which consumers have embraced the convenience of biometric smartphone unlocking can be taken as an indication that adoption will be rapid if it means less fraud, less cancelled cards, and less spending limits on contactless cards.