Biometric Authentication and Identity Verification Gain Momentum

Biometric authentication is gaining traction in payments, with rewards and discounts proven to sway consumers. The digital identity verification market is set to pass the 70 billion mark in 2024, driven by businesses prioritizing fraud prevention. In-car fingerprint payments are gaining traction, with Mercedes-Benz and Mastercard partnering for digital payments in Germany. The global identity verification market is expected to grow at a CAGR of 11.37% between 2023 and 2030.