• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Use of Facial Recognition in Digital Payments to Double by 2025: Report

April 16, 2021

Juniper Research has released a new study that suggests that the number of people that use facial recognition software to authorize digital payments will double in the next few years. The firm estimates that 671 million people were already making payments with facial recognition in 2020, and believes that that number will grow to 1.4 billion by 2025.

Use of Facial Recognition in Digital Payments to Double by 2025: Report

According to Juniper, those adoption rates can be attributed to the growing ubiquity of front-facing cameras in mobile devices, which in turn makes it much easier for people to take advantage of face-based authentication software. Juniper credited Face ID for kicking off the trend, though virtually every major smartphone now offers some form of facial recognition.

The findings build on an earlier Juniper report that looked at biometric authentication more generally. That report indicated that biometric modalities would be used to authorize $3 trillion worth of transactions by 2025, with Juniper arguing that payment providers will need to support some form of biometric authentication to compete and retain their customers.

Juniper went on to note that the ready availability of facial recognition software will slow the rollout of hardware-based facial recognition technology. However, the firm warned that facial recognition providers will need to embrace more robust hardware solutions in order to prevent spoofing as deepfake technology continues to improve.

In that regard, the Juniper study did find growing support for fingerprint and voice authentication in the modern payments ecosystem. A full 93 percent of the smartphones with biometric capabilities will feature a fingerprint sensor by 2025 (compared to the 17 percent with dedicated facial recognition hardware), while 704 million people will be confirming transactions with voice recognition. That number is up from 111 million in 2020, with voice recognition being particularly popular in the banking industry.

Juniper’s latest findings echo its 2020 Mobile Payment Authentication report, which predicted that face and fingerprint recognition hardware would be available in 800 million and 4.6 billion devices, respectively, in 2024.

–

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: Biometric, biometrics, face biometrics, facial recognition, fingerprint recognition, industry reports, industry trends, Juniper Research, market forecasts, mobile biometrics

Related News & Articles

Samsung and Verizon Announce Major 5G Deal

World Cup Analysis from Visa Shows Consumer Shift to Contactless Payments

Precise Biometrics Payment Card Tech Gets Mastercard Approval

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • 1Password Rolls Out Passkey Support for iOS Users
  • Somalian Government Launches Digital ID System
  • Philippines Authorities Aim to Roll Out Mobile IDs By Year’s End
  • Ethiopian Authorities Enroll Students in Biometric Digital ID Program
  • Kenyan Government Officially Unveils New Digital ID Program

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld