Fingerprint embedded payment cards to see sales boost
07 November 2017 17:29 GMT

ABI Research has found that that  with embedded fingerprint sensor payment cards will see 160 million shipments by 2022.

The research group stated in a new report that while the Middle East, Africa and North America will be among the first regions geographically in which higher shipments are expected during 2018, forecasts indicate that Europe and Asia Pacific will have a larger penetration rate over the coming years. Mastercard is at the helm, leading this biometric wave in payment cards. Other key vendors include FPC, Gemalto, IDEMIA, Next Biometrics and Zwipe.

The banking industry is aiming for more biometric applications and has been greatly driven by the positive response and increased adoption of fingerprint technologies in the consumer segment. Fingerprint recognition sensors in consumer devices are expected to increase with a modest but steady growth, reaching 1.7 billion organic shipments by 2022. Apple's decision to go with face instead of fingerprint recognition for the iPhoneX caught other vendors and suppliers by surprise, causing them to revisit their strategies for future sensor shipments in smartphones and tablet devices.

In general, biometric technologies continue to dig deeper into key IoT verticals which will, in turn, affect digital security, encryption and communication protocols alike. "We are currently traversing the period when enterprise along with promising up-and-coming sectors like smart home and automotive are evaluating how biometrics can adapt into the constantly evolving security framework – this is not an easy task," comments Dimitrios Pavlakis, Industry Analyst at ABI Research, a leader in emerging technology intelligence. "The mission of 'de-siloing' data and tackling the issue of a digital IoT transformation is already a challenge and the advent of biometrics in more IoT verticals will only exacerbate the problem." Moving forward, the data depict a higher rate of biometric security, user, and device ID applications in the enterprise and banking industries as well as an increased adoption of EMR (Electronic Medical Records) in the healthcare segment.