Fingerprint Cards (FPC) has published a new survey that offers yet more evidence of the growing demand for biometric payment cards. In that regard, the findings echo a 2020 FPC survey, though that poll covered a more global audience while the new one focuses exclusively on the card market in France.
Digging into the numbers, FPC found that the majority (59 percent) of French consumers would be willing to use a biometric payment card, and the demand is even higher amongst those who are actually familiar with the technology. Seventy percent of consumers who know about biometric cards have expressed an interest in owning one, which suggests that the technology has a high appeal with the general public.
Either way, the overall 59 percent figure is still up significantly from the 51 percent recorded in 2020. That number indicates that the market is accelerating, since demand was largely flat coming out of 2019, when the comparable figure was 50 percent.
In other news, just over half (52 percent) of the respondents would be willing to switch banks to obtain a biometric card. That trend was even more pronounced amongst the younger generation, with 67 percent of those between the ages of 18-34 indicating that they would ditch their current bank in favor of one with a biometric option. The average customer would also be willing to pay an extra €3.20 every month for the privilege of owning a biometric card.
French consumers cited convenience and security as the primary factors driving their interest in biometric payment solutions. Seventy-three percent now use a card as their main in-store payment option. Biometric cards are more convenient because fingerprint recognition negates the need for a PIN, and allows payment providers to raise the payment cap for contactless transactions.
As it stands, 42 percent of the respondents want a biometric card for simplicity, while 40 percent want a more hygienic contactless option during the pandemic. The majority (71 percent) also believe that biometric cards are safer because fraudsters cannot use them even if they do manage to get their hands on a card that has been lost or stolen.
“It’s exciting to see the high interest among consumers, and in a country first to roll this out in a larger scale,” said FPC Payments and Access SVP Michel Roig. “Banks need to understand the technology itself to make informed decisions, to offer customers a card that enhances the shopping experience, rather than hindering it.”
The survey reflects the feedback of 1,000 French consumers, and was conducted in collaboration with Kantar in August of 2021. France has been one of the earliest adopters of biometric payment cards, with BNP Paribas and Crédit Agricole having already moved forward with commercial launches. The Crédit Agricole card features a fingerprint sensor from FPC.
October 18, 2021 – by Eric Weiss