“The survey found that 70 percent of respondents expressed interest in a biometric, contactless payment card.”
A new survey from Zwipe and its partner TietoEVRY suggests that there may be strong demand for biometric payment cards, if a representative sampling of Swedish consumers is any indication.
The survey found that 70 percent of respondents expressed interest in a biometric, contactless payment card. Much of that sentiment may be attributable to the concerns about shared surfaces in the wake of the COVID-19 pandemic, with over 80 percent of respondents indicating that they are concerned about touching POS terminals when shopping in-store.
The survey findings may suggest that enhanced consumer awareness could further drive up demand. Most consumers surveyed (73 percent) weren’t aware of the biometric payment card concept prior to the study, and 75 percent indicated that they want their next payment card to feature biometric authentication.
“Currently, we see a strong interest in the market, not only for a safer and more secure and convenient payment method, but also for more hygienic options at points of sale,” said TietoEVRY Head of Card Production and Personalization Jarmo Rouhiainen. “We believe that biometric payment cards address these demands in a unique way.”
While the excitement in this survey is palpable, it’s worth taking a moment to consider that it polled 202 adults, and that the entire survey was conducted in Sweden. Some of the more remarkable findings may not necessarily apply the same way in other parts of the world. For example, 59 percent of respondents said they would actually pay an additional monthly fee to their bank to use biometric payment cards, and nearly half – 48 percent – said they would switch banks to take advantage of this technology.
That’s quite an appetite. And even if it is particular to Swedes, it bodes well for broader consumer interest as banks start to offer biometric payment cards in the coming years.