Biometric Authentication and Digital Identity Verification on the Rise

Biometric authentication is gaining traction in the payments industry, offering a secure and seamless alternative to legacy authentication methods. Incentives like rewards and discounts can persuade consumers to adopt biometric authentication. The global digital identity verification market is expected to surpass 70 billion checks in 2024, driven by businesses adopting biometric verification methods to combat fraud. The identity verification market is projected to reach a value of USD 9664.45 million by 2030, with biometrics holding the largest market share. The global behavioral biometrics market is anticipated to reach approximately USD 9,345.99 million by 2032, driven by factors such as ease of use, flexibility, security, and efficiency.