Can Biometrics Simplify Mobile Commerce?

By Pete Rizzo (@pete_rizzo_)  

Boston, MA – November 21, 2013 – Mobile and online commerce continue to advance, growing in popularity and market share each year. Online authentication, however, has remained a step behind, with decades-old solutions such as usernames and passwords proliferating and promising solutions struggling to take hold.

PYMNTS.com’s newest Report Store report, Simplifying Online Checkout: Are Biometric-Enabled Smartphones The Answer? takes a comprehensive look at the now reignited biometrics industry to determine how its solutions could benefit consumers and merchants, and how soon these benefits – and the companies that offer them – might be ready for a wider marketplace.

“By including its Touch ID fingerprint biometric service in its iPhone 5S launched in September 2013, Apple has given the market validation to support a technology once considered improbable for widespread acceptance given the Big Brother concerns it typically generates,” writes report author and PYMNTS.com senior analyst Jeff Green. “The market would be wise to continue watching Apple’s progress and note as a key turning point when, or even if, it begins to allow third-party app developers to use Touch ID to support payments.”

In this report, we examine how biometrics has emerged to fill the security void left by near-field communication (NFC), analyze market projections to illustrate how the industry could evolve and identify the playmakers that could have the biggest influence on this transition.

Highlights of this report include:

• A comprehensive overview of changing perceptions regarding the biometrics market 

 

• A detailed analysis of how biometrics can become a viable form of mobile authentication 

 

• A step-by-step graphic illustrating the Touch ID process 

 

• Three key drivers of support for biometrics in mobile devices 

 

• Three recommendations on how biometrics can grow to facilitate mobile commerce.

 

Companies mentioned in this report include: Apple, Banque Accord, BioPay Paycheck Secure, BizRaiser, BNP Paribas, Carrefour Banque, CITC”EuraRFID, Intervale, Concert International, Crédit Agricole, Crédit Mutuel Arkea, Danal, Dictao, Elitt, Fujitsu, Galitt, Groupe Auchan, Groupement des cartes bancaires CB, HTC, ID3, Ingenico, Leroy Merlin, MasterCard, NXT-ID, Nexus USA, Oberthur Technologies, Paycert, Pay By Touch, PayPal, Phoenix Check Cashing Inc., PW Consultants, Sesame Touch, Six Payment Services, Swiss Capital International Group, Trust Designer, UINT, UL and WorldPay. 

The report is 18 pages long and contains 5 charts. Click here to purchase a complete copy.