• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

579 Million Biometric Payment Cards Will be in Use by 2023: Goode

October 19, 2018

 579 Million Biometric Payment Cards Will be in Use by 2023: GoodeJust in time for this year’s Money20/20 event in Las Vegas, Goode Intelligence has issued a new report on the growing prominence of biometric technology in payments, entitled, “Biometrics for Payments; Market and Technology Analysis, Adoption Strategies and Forecasts 2018-2023 – Second Edition”.

Much of the report’s analysis concerns the same trends outlined in FindBiometrics’ recent feature on the ‘Convenient Revolution’ of biometrics in payments – the use of biometrics for authentication in online and mobile channels; the emergence of ‘naked payments’ (a term coined by FindBiometrics in 2014) that directly link consumers’ biometric credentials to their payment accounts, bypassing the need for physical payment cards and smartphones; and the rise of biometric payment cards, which are currently in development and approaching the mass commercialization phase. With respect to that last trend, Goode Intelligence predicts that almost 579 million biometric payment cards will be in use by 2023.

The Goode Intelligence report also offers other novel insights, including predictions concerning the ascent of biometric wearables, and smartwatches in particular. The report notes that the ECG capabilities of the recently announced Apple Watch Series 4 could be applied to user authentication, and that Apple indeed will use the device to authorize transactions on Apple Pay starting next year, with other wearable device makers to follow its lead.

All told, Goode Intelligence forecasts that by 2023, there will be more than 2.6 billion consumers making payments facilitate by biometric technology, a development that should represent a huge leap forward in both payments security and convenience.

—

(Originally posted on Mobile ID World)

Related News

  • Remote Identity Verification Market to Hit $17.2 Billion by 2026: Goode IntelligenceRemote Identity Verification Market to Hit $17.2 Billion by 2026: Goode Intelligence
  • After COVID-19, Biometrics Will Be Essential to Payments Market: Goode IntelligenceAfter COVID-19, Biometrics Will Be Essential to Payments Market: Goode Intelligence
  • Digital Onboarding Trend Drives Demand for Tech SolutionsDigital Onboarding Trend Drives Demand for Tech Solutions
  • Get Ready For The Digital Identity Services Market BoomGet Ready For The Digital Identity Services Market Boom
  • Apple Watch’s ECG Biometrics Come to Hong Kong and EuropeApple Watch’s ECG Biometrics Come to Hong Kong and Europe
  • 1.9B Bank Customers to Use Biometrics by 2021: Goode Intelligence1.9B Bank Customers to Use Biometrics by 2021: Goode Intelligence

Filed Under: News Tagged With: Apple Watch, Apple Watch Series 4, Biometric, biometric payments, biometrics, ECG biometrics, Goode Intelligence, industry trends, market forecasts, market reports, mobile devices, mobile identification, mobile payments

Primary Sidebar

Join Us For Our Next Virtual Event:

Travel & Hospitality Biometrics Online Summit
Register now!

Sponsored Links

TECH5 showcase logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

cmitech logo

CMITech is a leading provider of high performance, cost effective iris recognition systems. The company is setting the industry standard for advanced user interfaces that are fast, intuitive and effortless. Serving enrollment and authentication solutions of all sizes, CMITech systems include binoculars-type, wall mount, desktop, and kiosk-type product configurations.

Onfido logo

Onfido is building the new identity standard for the internet.Our AI-based technology assesses whether a user’s government-issued ID is genuine or fraudulent, and then compares it against their facial biometrics. That’s how we give companies like Revolut, Zipcar and Bitstamp the assurance they need to onboard customers remotely and securely. Our mission is to create a more open world, where identity is the key to access.. For more information, please visit www.onfido.com

ThreatMark brings trust to the digital world by providing cutting-edge fraud prevention solutions. Major banks use ThreatMark’s AI-powered technology and behavioral biometrics to build secured banking experience to precisely verify their legitimate users, seamlessly across all digital channels. All while securing the users’ most precious assets and keeping the fraudsters away. Learn more: www.threatmark.com/

With its secunet border gears product portfolio and specialised consulting expertise, secunet supports police forces and security authorities in their sovereign tasks. Whether ABC gates, self-service kiosks or biometric middleware – each component helps to strengthen identity protection and to accelerate verification – in mobile and stationary scenarios.

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • Police and Industry Lobbyists Push Back Against Facial Recognition Bans
  • New FAST Survey Will Measure Compensation of Security Industry Professionals
  • French Senators Put Forward New Facial Recognition Guidelines
  • Miami Airport to See US’s Largest-ever Biometric Boarding Deployment
  • Former SITA Exec Returns to Lead Americas Division

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 FindBiometrics