Biometric payments are poised for significant growth, but substantial consumer security concerns could put its future at risk according to a new consumer study of US, UK and Australian consumers from Transaction Network Services (TNS).
- 61% felt that providing companies with their fingerprint and iris information put their personal identity information at risk.
- 15% of adults have made a biometric payment in the last year, rising to 25% of 18 to 24-year-olds.
- Fingerprints were chosen as the most popular identifier overall; however, the second choice varied by region.
- 68% believe biometric payments will become more commonplace in the next 2-5 years.