Americans Predict Biometric Future for Payments
Posted 17.07.2017 Matthew Taylor
Americans believe that biometrics will start to dominate payment solutions, and on top of that, they are excited for the ‘futuristic’ switch to take place. That’s because biometric solutions are providing an easier, simpler and frictionless way to carry out transactions.
80 per cent look forward to future payments
The assertion comes from the results of a survey carried out by American payments company, Viewpost. It surveyed some 1,000 Americans in a report entitled ‘The Future of Payments’. The report found that 80 per cent of U.S consumers are looking forward to future payment technologies such as biometrics and even some alternative currencies like bitcoin.
Biometrics are no longer something consumers believe belongs to spy movies. In fact, 50 per cent envision fingerprint scanning for payments to become common place in the next decade. For some people, it already is.
For facial recognition, 35 per cent believe it will be a key authentication method in the next decade, but consumers had less faith in voice and retinal biometrics to gain a foothold in the next 10 years.
Many believe that the advancement of biometrics will signal the death of cheques in the American economy. One third of Americans in the study believe that paper cheques will cease to be used in the next five years – while 80 per cent agreed they would be obsolete by 2027.
Fingerprint Biometrics the strongest choice
Biometrics are becoming the corner stone of solutions that provide strong security, and provide a simple customer interaction at the same time. It’s why we use them in our solutions for schools and offices. They give us the best of both worlds, and create solutions that are secure and easy for organisations to implement. Fingerprint scanning provides employees or students with something they can never lose, forget or have stolen. Find out more here about how BioStore utilises biometrics in its solutions.