Mobile payments using biometrics to authenticate the user is forecasted to reach close to $2 billion in 2017, up from $600 million last year, according to new data from Juniper Research.
According to a report covering the new research, driving the movement to biometrics payments is Apple Pay, which paved the way for consumers to make payments in stores and on apps using fingerprints. Android Pay and Samsung Pay helped drive adoption further with their own biometrics capabilities, noted the report.
In addition to that, the growth of biometric payments is being helped by the growing availability of fingerprint sensors on smartphones and tablets. Juniper found that around 60 percent of smartphones are expected to launch with fingerprint sensors this year. And it’s not only in high-end phones. Juniper Research found that Chinese manufacturers are including fingerprint sensors in mid-range smartphones as well.
Read more at: Fintech News