Biometrics are gaining momentum in retail and payments, offering secure and seamless authentication methods. Consumers, particularly younger ones, are more inclined towards facial recognition, while older ones prefer fingerprints. Biometric adoption is expanding to mobile devices and cashless payments, with the industry undergoing a transformation. Rewards and discounts are effective incentives to persuade hesitant 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 a generational divide in its adoption.

Biometrics Boom in Retail and Payments