We outline the market outlook for biometric payments in payments– from investment trends, to leading companies, to recommendations for players in the space.
What are biometric payments?
Biometric payment companies provide point-of-sale (POS) technology, software, wallets, and platforms that validate a user’s identity and approve payments using biometric data such as fingerprints, palm, voice, iris, or face recognition.
Many biometric payment companies leverage artificial intelligence (AI), machine learning (ML), or blockchain technology to assess whether a payer’s identity is fraudulent. Other startups create biometric-enabled wearable devices like rings.