2021 United States Biometric Payments Market Report: Banks and Merchants Prepare to Embrace Faces and Fingers for Authentication
DUBLIN, November 17, 2021– (BUSINESS WIRE) – The report “The use of biometrics is on the rise for payments: banks and merchants, prepare to adopt faces and fingertips for authentication” has been added to ResearchAndMarkets.com offer.
This report explains the current biometric authentication market and examines the determining factors influencing the adoption rate and how different stakeholders can gain a foothold in this rapidly growing ecosystem.
The report also covers the scope of today’s biometric authentication technologies, including how the introduction of behavior-based security has the potential to transform the payments industry. By describing the success and challenges faced by global entities in implementing this advanced technology, this report provides readers with valuable information on how to introduce innovative products in this field.
Additionally, legislative developments at the state and federal levels relating to biometrics and consumer privacy are described to provide readers with a comprehensive perspective on the current regulatory landscape.
“Since our 2017 report, COVID-19 and changing consumer preferences have accelerated the deployment of biometric authentication in the payments industry,” comments Tim Sloane, vice president of payments innovation at MAG.
Sloane continues, “In this rapidly developing field, it is necessary to have a solid understanding of the potential and limitations of the technology, including the anticipated challenges to tailor it to the needs of your market. It is time for all payment and financial entities to learn about privacy issues and legislation, new developments and partnership opportunities in biometrics. “
Overview of biometric authentication
Major developments in this sector, including the rise of behavioral biometrics in fraud detection and prevention
Analysis of the US regulatory landscape and the challenges facing companies interested in consumer biometrics
Several case studies on the implementation of biometric authentication in retail, banking, card payments and digital payments
Recommendations on partnership and revenue growth opportunities
Main topics covered:
3. Authentication and biometrics defined
4. Basics of biometic authentication
5. The need and importance of biometrics are clear
6. The use of biometrics benefits consumers, merchants and banks
7. Implementations of the card issuer
8. Use case scenarios and progression by biometric method
9. Use of on-card fingerprint biometrics
10. Use of facial biometrics
11. Behavioral biometrics – An emerging sector
12. The US government is wrong in the biometric implementation
13. Regulatory status
14. Conclusions and recommendations
Royal Bank of Scotland
For more information on this report, visit https://www.researchandmarkets.com/r/u8c6ix
View the source version on businesswire.com: https://www.businesswire.com/news/home/20211117005847/en/
Laura Wood, Senior Press Director
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