Biometric Payment Cards: Growing Payment Solution

Saturday, March 12th, 2022

Payment cards are obtaining new capabilities. Fingerprint biometrics are set to become a standard approach to authentication. If you’re interested in biometric payment cards and want to know who can help you with this growing trend in payments, read below. 

Biometric Payment Cards: IDEX Biometrics & IDEMIA

Biometric cards represent an identification type based on the analysis and authentication of individuals through their physical and behavioral traits. The latter traits include fingerprints, eye retina, iris scanning, facial patterns, voice recognition, and body movement.

In April 2021, IDEX Biometrics and partner IDEMIA launched the 1st biometric payment cards. The latter’s operation is based on the Idex TrustedBio™ fingerprint sensor. This payments card solution is unprecedented in terms of integration. Moreover, it tops the list of similar payment options in terms of biometric performance and card integration efficiency. 

Months later, IDEX Biometrics, in partnership with Dongwoon Anatech, decided to take its service one step further and move its access control and identity initiatives forward. Another follow-up order for TrustedBio sensors will later be introduced. 

Other Biometric Card Solutions in the Market

According to ResearchAndMarkets, the value of the Global Biometric Card Market was USD 8.75 million in 2020. It’s projected to account for USD 1,691.81 million by 2026, with a CAGR of 155.45% from 2021 to 2026.  

The payments industry is increasingly integrating password-free solutions for payment processing. In the upcoming years, more services based on biometric technologies will be making consumers’ lives easier, as Jack Forestell, Visa Inc.’s head of global merchant solutions has noted. 

Forestell has further mentioned that electronic payments are gaining traction worldwide, and Visa aims to develop and invest in emerging capabilities focused on delivering a better and safer payment experience.

With all that in mind, it’s high time you turned to a reputable payment-comparison specialist like BestPaymentProviders.co.uk that can help you find the most-suitable merchant-processing services for your business. 

Thanks to the honest review provided by Best Payment Providers UK, you can be sure to get access to the most reliable, secure, and advanced payment-processing solutions, including biometric payment cards in the industry. BestPaymentProviders.co.uk pays exceptional attention to terms, complaints, and integration of payment-processing services providers.