Payment for biometrics

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• Acquiring (processing)

Biometric Identification (Global Market)

• Biometric Identification (Global Market)

2024: Global Fingerprint Payment Technology Market Size Up 6.7% Year over Year to Reach $9.1 Billion

In 2024, costs in the global market for payment solutions based on fingerprint user identification reached $9.1 billion. This is 6.7% more than in the previous year, when costs in this area were estimated at $8.53 billion. Industry trends are addressed in the Market Research Future survey, which TAdviser reviewed in early March 2025.

Amid the active development of e-commerce and digital payment platforms, consumers and businesses are looking for more robust identification methods when making transactions, the study said. Fingerprint scanning is one of the most convenient and affordable methods of biometric identity verification. Fingerprint scanners, for example, are equipped with most modern models. smartphones

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One of the main market drivers Market Research Future calls technological advances. Advanced fingerprint scanning algorithms and multimodal biometric systems improve security and minimize the likelihood of false positives. At the same time, the use of artificial intelligence and machine learning improves the reliability of identification. AI technologies allow you to optimize many functions, making identity verification faster and more accurate. In addition, biometric platforms are overgrown with additional features such as behavioral analysis.

The increase in demand for fingerprint sensors is facilitated by an increase in smartphone penetration in emerging markets. As consumers in such regions increasingly rely on mobile devices for everyday transactions, companies are integrating biometric funds into their authentications payment systems. The deterioration of the situation in the sphere has a significant impact on the market. cyber security The number of incidents involving theft of personal information, database leaks and fraud is increasing. In such conditions, the demand for biometric protective equipment is steadily increasing. Organizations around the world are investing heavily in technologies that can improve security and optimize payment processes.

The authors of the study distinguish three types of fingerprint sensors - capacitive, ultrasonic and optical. In 2023, it is estimated that the largest share of revenue was provided by the first type of sensors, which are widely used in various mobile devices. Among the key areas of use of payment solutions with fingerprint identification are retail, banking and financial services, hospitality, healthcare, etc. The list of significant players in the global market includes:

• Futronic Technology Company;
• Precise Biometrics;
• MorphoTrust USA;
• SecuGen;
• Trustonic;
• Apple;
• Gemalto;
• Fingerprint Cards;
• Biometric Signature ID;
• Crossmatch;
• Samsung;
• IDEX Biometrics;
• LG Electronics.

In 2023, North America led from a geographical point of view, which is explained by technological advances, the active development of e-commerce and the rapid introduction of new payment solutions. The second and third places in terms of revenue are occupied by Europe and the Asia-Pacific region, respectively.

Market Research Future analysts believe that in the future, the CAGR in the market under consideration will be approximately 17%. Thus, by 2032, costs on a global scale could rise to $34.71 billion.^[1]

2023: The global biometric payments market grew 13% to $32.2 billion over the year

In 2023, the total amount biometric of payments made globally amounted to $32.2 billion. This is about 13% more compared to 2022, when such transactions accounted for $28.38 billion Biometric. Payment technologies are increasingly being introduced around the world, which is due to the growing demand for safe and convenient payment methods. This is stated in the Market Research Future review, presented in early September 2024.

One of the key factors driving the biometric payment industry is the growing popularity of mobile payment. Biometrics provides a number of advantages over other solutions or methods of user identification, such as passwords and PINs. In particular, biometric solutions are more secure because they are based on unique personal characteristics that are very difficult to reproduce. In addition, they are more convenient because they do not require any symbol sequences to be stored. With the increase in the number of digital payments, the risk of fraud also increases: in such a situation, biometrics can improve security. For example, multimodal systems are emerging that combine multiple biometric methods to improve protection.

From a technological point of view, recognition of fingerprints, faces, iris, voices and behavioral biometrics stand out. Fingerprint scanning is the most common method, with a share of about 38.2% by 2025. The key players in the industry are Thales Group, Apple, NEC, Alipay, Mastercard, Samsung, Worldpay, PayPal, Visa, Qualcomm, Fingerprint Cards, Tencent and Gemalto. In the segment of payments with one-factor biometric authentication, the total volume of transactions is estimated at $26.3 billion in 2024, with a multi-factor volume of $16.7 billion.

Analysts believe that in the future, the CAGR (average annual growth rate in complex percentages) in the market under consideration will be 13.46%. As a result, by 2032, the volume of biometric payments will grow to $100.3 billion.^[2]

2020: Global biometrics payments reach $404 billion - Juniper Research

The global volume of payments made using biometric data (fingerprints, iris, voice and face recognition) in 2020 reached $404 billion. This is evidenced by data from the analytical company Juniper Research.

A new study titled "Mobile Payment Security: Key Opportunities, Supplier Strategies, and Market Forecasts 2021-2025" suggests that biometric data is becoming critical to creating attractive and user-friendly applications as mobile payments continue to increasingly dominate payment solutions.

In 2020, the global volume of payments made using biometrics reached $404 billion

Study co-author Susan Morrow explains:

While biometrics is now an integral part of the ecosystem, payments and e-commerce apps are lagging behind the pace of innovation. Sellers must quickly implement biometric capabilities and educate users to secure the growing e-commerce market as much as possible.

The study showed that contactless mobile payments are the main factor in the growth in the use of biometrics, and payment cards, on the contrary, are holding back development. Researchers are concerned that contactless cards may pose a threat, as their use does not involve additional verification. This means payment solution providers need to encourage the use of wallets to promote greater adoption of biometrics.

E-commerce payments using cards without biometric protection remain common, experts said, indicating significant efforts will be required from stakeholders to shift users to payment methods involving biometric protection.^[3]

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