FindBiometrics: How IDEX is Reinventing the Credit Card
30 July 2018
The Next Step in FinTech
The credit card is being reinvented, and plastic is going to make a comeback in the ongoing payments race. Thanks to the rise in mobile biometrics, FinTech has been an exciting space since the successful launch of Apple Pay in 2014. In fact, the most recent market research on the topic from Juniper predicts that by 2023 over $2 Trillion in mobile payments will be authorized by the use of biometric authentication. Smartphone and wearable based mobile wallets, conversational commerce, and even naked payments have not only captured the attention and support of consumers around the globe, but have done what many thought would be impossible five years ago – they’ve overshadowed the traditional credit card. And that’s no easy feat. Credit cards are ubiquitous and convenient, creating a high bar for competing payments solutions, but the biometric authentication on mobile wallets offered novelty in addition to stronger security and convenience than the average chip card. All of that’s changing however, because the biometric revolution has come to the credit card for the next step in FinTech, largely thanks to the efforts of IDEX.