Fingerprint Payment Methods Predicted by UK Consumers
April 2, 2019
In a new survey of British consumers and business owners, fingerprint payment methods have been predicted as the payment method that will grow in use the most in the coming years.
Consumers predict fingerprint payment methods
Fingerprint payment methods are the method consumers believe that they will personally most likely use in the future. More than half said fingerprint methods would be what they are most likely to personally adopt. Only eight per cent selecting microchips and three per cent indicating the use of wearable technology.
When asked what the UK will use as a whole the most, 36 per cent said they simply did not know or that cash will remain most popular. But out of the emerging payment methods, 29 per cent believed that fingerprints would be the most popular method in the future. Only eight per cent had confidence in face recognition and 11 per cent in iris scanning as dominating the payment sector.
Room for growth remains
While it was 54 per cent who think they will personally use fingerprint payment methods, 58 per cent of small business owners agreed with that. They outlined that it was fingerprints that they would most likely accommodate in their payment methods in the future.
But the reality of the survey is that fingerprint payment methods are not used massively today. Only five per cent said they actively use fingerprints for payments currently. Cash is still the most used and what 68 per cent of consumers said is the most trusted.
How organisations can use fingerprints today?
So why do so many see themselves using biometrics in the future? It’s because so many see the benefit biometrics are delivering in their lives, primarily on their phone today. Fingerprint log-in has proved itself to be fast, convenient and secure for consumers. They can visualise transitioning that into payment solutions easily.
Some might also be seeing the benefit of fingerprints in their place of work. That’s where we allow people and organisations to benefit from the same security and convenience benefits here at BioStore. More and more people are experiencing workplaces that use fingerprints to make getting around the office easier. Whether that is paying for catering, logging on to computers or authenticating printing. Find out more how you could make your workplace one of the many that utilise fingerprint payment methods for smooth internal operations.