Nearly 5 billion biometric transactions expected by 2019

November 2015
Powered by The Paypers | Risk Management

The increased use of touchless payment services using fingerprint readers will push the number of biometric authenticated transactions to nearly 5 billion by 2019, a recent report unveils.

According to a recent study conducted by Juniper Research, there will be almost 130 million biometric authenticated transactions in 2015 alone, primarily in the US, UK and South Korea.

The level of security of these biometric transactions depends on how well the fingerprint data itself is protected. The report also states that the growing number of retail store locations using contactless credit card systems and mid-range smartphones with built-in fingerprint scanners, will drive the increase in biometric payments.

Previously reported, Juniper Research released a report stating that more than 770 million biometric authentication applications will be downloaded per annum by 2019.