Americans Anticipating More Digital, Biometric Payments: Survey

Americans anticipate an increasingly digital future of payments, and sizeable proportions of the population are open to the idea of biometric payment verification, suggest the findings of a new survey by B2B invoicing specialist Viewpost.Americans Anticipating More Digital, Biometric Payments: Survey

The survey found that 51 percent of respondents already reported being paid for work electronically, with 83 percent anticipating that paper cheques will disappear within 20 years. Fifty-two percent of respondents “believe that payments between companies and customers will be exchanged via mobile app,” according to a summary of the findings.

As for biometrics, “50 percent of Americans believe fingerprint technology will be used for authentication to pay and receive payments over the next 10 years” – with the transformation already well underway as mobile payment platforms like Apple Pay and Samsung Pay continue to grow. There was less enthusiastic support for other modalities like facial recognition, which only 32 percent of respondents said they trust to secure payments, and “retinal scanning,” which 31 percent see as a viable payment authentication technology; but given that Samsung has only just started to promote iris scanning for payment authentication and Apple is expected to pioneer 3D facial recognition for iPhone authentication, such modalities could enjoy rising popularity in the months and years to come.