Biometrics will ensure mobile payments worth 2.5 billion dollars within five years, multiplying by ten during the 2019-2024 period.


Biometric authentication is gaining prominence as a mechanism to ensure security in mobile payments.

For example, the PSD2, which entered into force on Last September , it contemplates a double authentication system, using two of the three elements proposed by the directive for the verification of the identity of the users. And one of those elements can be a biometric factor, either by fingerprint, iris or facial or voice recognition.

Thus, the forecast growth of the biometric authentication in mobile payments should not surprise us. According to the report ‘Mobile Payment Authentication & Data Security: Encryption, Tokenisation, Biometrics 2019-2024’, prepared by Juniper Research, the biometric authentication will be used for secure mobile payments with a value of $ 2.5 trillion in 2024, compared to 228 million that will represent this year. if these forecasts are correct, it would register as a cumulative growth 1,000% in the period 2019-2024.

The study reveals that the availability of hardware biometric devoted to such order shall not be a barrier, because within five years it will be present in 90% of smartphones. however, the consultant expected that less than 30% of these phones are used to authenticate contactless payments, due to the penetration of cards conectless.

The accurate research that the facial recognition, whether based in hardware or in software, is gaining ground with respect to the authentication of payments based on fingerprint. Juniper Research believes that the explanation may be found in the ubiquity of cameras of the mobile devices and the ability to use platforms of biometrics-based software-as-a-service, which would reach a level of use similar to that of biometrics-based hardware in the next five years.

The report emphasizes that there are several payment standards and protocols that will come into effect in the future that will increase the use of mobile biometrics. In this regard, it particularly pauses the requirement < strong> '3D Secure 2.0' for two-factor authentication, which it believes will push merchants to adopt biometrics, in order to make the payment experience more fluid.

“Biometrics has been traditionally used for contactless payments in person. However, with the increase in the need for trouble-free authentication in all m-commerce channels, we anticipate that more than 60% of biometrically verified payments will be made remotely in 2024 ”, states James Moar, author of the study.

However, the report states that this will be limited mainly to Android devices, since iOS is currently not compatible with WebAuthn authentication. Due to this, the use of biometrics for mobile payments on devices other than Apple, it will grow twice as much as on iOS devices.