Finance Derivative: The future of the biometric smart card: Five predictions for 2019
3 January 2019
By Stan Swearingen, CEO, IDEX Biometrics
“Biometrics” has been the buzzword on everyone’s lips within the payments industry this year, and an influx of pilot schemes has confirmed that the biometric revolution is no longer a distant fantasy, but rather a pressing reality.
Following a number of successful trials using fingerprint sensor technology within smart cards across multiple markets, (including Bulgaria, the US, Mexico, Cyprus, Japan, the Middle East and South Africa) the biometric smart card is reaching its inflection point. Key players within the banking industry, including Visa and Mastercard, are already heavily invested in this new payment technology and anticipate that biometrics will play a key role in the revolution of the payments industry.
With mass market roll-out on the horizon, here are five key predictions for the biometric payment industry in 2019.