Biometric Payment Cards: The Hot Topic of Conversation
This year’s Trustech 2018 event had a common theme, with a host of vendors including FPC, IDEX, NEXT Biometrics, Gemalto, IDEMIA, Precise Biometrics, NXP, and Infineon having a heavy focus on pitching their respective biometric payment card technologies and/or exploring the related opportunities. Today the market is at an infliction point, with a number of pilots at various stages, and the year 2018 marking the beginning of the evaluation phase with an expectation that certification for mass commercial rollouts will be achieved as early as 2Q or 3Q 2019.
Payments remain the top target of priority, given the large total available market, where issuance exceeds 2.9 billion annually. But with many synergies shared between payments and other end markets, the focus is beginning to shift onto next-generation opportunities, utilizing the secure authentication experience of biometric payment cards across other verticals where high levels of security and privacy are a prerequisite or where fraud levels are considered to be high.
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