In the ever-evolving landscape of digital payments, security remains a paramount concern as technology advances. As we navigate a world increasingly reliant on cashless transactions, the conventional methods of authentication, such as passwords and PINs, are being surpassed by more sophisticated and secure alternatives, such as biometric authentication. Among these, facial and fingerprint scans have emerged as pioneers in redefining payment security.
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Data for today’s episode is provided by Javelin Strategy & Research’s Report: Tracking Emerging Payments Technologies:Adoption is Not Enough
Biometric Authentication Methods Used for Any Reason
(younger, tech-savvy, less affluent)
- 56% use fingerprint scans
- 42% use facial recognition
- 21% use voice
- 3% use iris scanning
- 19% use none of these
Source: 2023 North American PaymentsInsights—US: Digital Transactions and Emerging Technologies
About Report
In 2023, for the first time, the North American PaymentsInsights (NAPI) Digital Transactions and Emerging Technologies Survey captures moment-in-time data about the metaverse, biometric authorization, privacy and security, and digital ID use. The key takeaway from this survey data is that adoption is not enough as a metric to understand consumers’ use of emerging technologies. Understanding where payment habits are going—and thus, avoiding costly strategic missteps—requires a granular understanding of different market segments.
This Javelin Strategy & Research report delves into the data generated by the survey, looking at key directional indicators about consumers’ knowledge of and experience and comfortability with these emergent technologies and offering a guidepost for where their habits are going.
