Biometrics has become an important tool in the fight against fraud in almost all payment channels. Payments have been the major driving force for the wide-scale adoption of biometrics in the consumer market. Today, close to 600 million people are using biometrics on a daily basis around the world for secure convenient user authentication and transaction authorization. This growth is set to continue with a forecast of over 1.2 billion users by 2020.
In a new white paper, research and consulting company Goode Intelligence, explores what is driving banks and payment providers to adopt biometrics. The white paper features an interview with Precise Biometrics’ VP Sales, Fredrik Sjöholm, on the development of biometric payment cards.