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Consumers Optimistic about Biometric Payments
Friday, March 4, 2016 6:25 AM

Consumers are looking for more mobile payment options, along with the convenience offered by biometrics, according to information released last week from Visa and MasterCard.

The MasterCard Mobile Payments Study tracked 2 million global social media posts about mobile payments across Twitter, Facebook, Instagram, Forums, Google+, and YouTube, up from 85,000 posts in 2012 (SecureIDNews, Feb. 26).

“Digital wallets” was the most popular topic involving mobile payment, but biometrics was also frequently mentioned. Consumers were excited about the prospect of not using passwords. The most talked about biometric payment options were fingerprint, electrocardiogram (ECG) technology, and facial recognition.

Visa is working with Morpho (Safran) to showcase biometric-enabled payment options embedded in existing payment methods such debit cards or mobile.

Morpho and Visa demonstrated several new payment concepts last week at the Mobile World Congress in Barcelona, Spain, and at Visa’s innovation center in San Francisco.