Biometrics and Authentication in Retail and Payments

Biometrics are gaining traction in retail, with nearly 60% of U.S. online consumers using biometric authentication. Younger consumers are more likely to use facial recognition, while older consumers prefer fingerprints. Biometric adoption is broader on mobile devices, with 8 out of 10 consumers using it. Mastercard and NEC are leveraging biometric authentication for cashless payments. Biometric authentication is also gaining traction in the payments industry, with incentives like rewards and discounts being effective in persuading consumers. The number of digital identity verification checks is expected to surpass 70 billion by 2024, driven by businesses prioritizing fraud prevention. Biometric authentication is gaining traction in in-car payments, with Mercedes-Benz and Mastercard partnering to allow customers to make digital payments using their fingerprint.