Biometrics adoption in payments systems grows

Consumer demand for more convenient ways to purchase in-store goods has already led to contactless becoming the world’s most popular in-store payment method, but security is still critical when cards are lost or stolen. Because of this, fingerprint recognition is growing quickly as a preferred authentication method for payment cards as it maintains the speed and convenience of contactless while increasing security.

In 2022 alone, the global biometrics market was worth around $33.2 billion as more industries – from banking to retail and access control – realised their true value. That figure is anticipated to grow nearly three times by 2028, totalling $87.4 billion.

Fingerprints’ products play a crucial role in safeguarding electronic payments. The sale of over one million fingerprint sensor modules for biometric payment cards further evidences its growing position in the market.

“We are thrilled to have shipped over one million modules to the biometric payment card industry. I believe this is a testament to the quality, reliability, and performance of our products, and it demonstrates Fingerprints’ commitment to delivering cutting-edge solutions that are tailored to meet the unique needs of each market,” comments Michel Roig, President of Payment and Access for Fingerprints.

“Reaching this milestone is also a reflection of the strength of our collaborations with customers and partners through the value chain, and it reinforces our position as the leading provider of biometric solutions for payment cards.

“I am confident in our ability to defend and further strengthen our market position and look forward to continuing to innovate and develop products that enhance the security and convenience of biometric cards.”

The ultra-thin FPC1321 (T1) and FPC1323 (T2) fingerprint sensor modules possess exceptional 3D image quality and ultra-low power consumption that is ideal for contactless use. Additionally, they are optimised for integration into payment cards meaning every transaction can be approved with robust customer authentication while maintaining the speed and convenience of contactless.