As technology advances, the use of biometrics is expected to soar. Biometrics authentication within payments is expected to reach more than £1.9 trillion by 2024.*
With the global digitalisation of payments, consumers have more choices than ever for how to pay. Safeguarding the most personal information, while offering an easier, faster payment experience, are the goals of biometric authentication – and consumers are responding.
Many merchants see new technology – the rise of Big Data – and the need for advanced security driving change in their business. 70%** of online businesses said they’ve struggled to find a balance between improving security processes and keeping the customer journey quick and easy. We can help, talk to us.
Nevertheless, consumers are embracing the advancements of biometrics.
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* 2.5 trillion USD, 1 USD = 0,84505 GBP, www.oanda.com, 23.10.2020
** Sources: Mercator Advisory Group, Juniper Research, Aite Group, DFS Services LLC, Deloitte China Mobile Consumer Survey, Rachel L. German and K. Suzanne Barber, TrendForce, Counterpoint Research, LinkedIn Paysafe Group