Biometrics Steadily Replaces Legacy Authentication Methods
A new report from Mercator Advisory Group explores the leading developments in the field of physiological and behavioral biometrics, including successful implementation cases by major financial and corporate entities.
BOSTON, Oct. 26, 2021 /PRNewswire-PRWeb/ -- Mercator Advisory Group released a new report covering biometric authentication titled Biometrics Use Is on the Rise for Payments: Banks and Merchants, Get Ready to Adopt Faces and Fingertips for Authentication. The research explains the current market and discusses the driving factors that influence rate of adoption and how different stakeholders can gain a foothold in this rapidly growing ecosystem.
This report covers the breadth of today's biometric authentication technologies, including how the introduction of behavior-based security has the potential to transform the payments industry. Through outlining the success and challenges faced by global entities in implementing this cutting edge technology, this report provides readers with valuable insights on how to introduce innovative products in this field. Additionally, the legislative developments at the state and federal levels in biometrics and consumer privacy are outlined to provide readers with a comprehensive perspective on the current regulatory landscape.
"Since our 2017 report, COVID-19 and shifting consumer preferences have accelerated the deployment of biometric authentication in the payments industry," comments Tim Sloane, Vice President Payments Innovation, Mercator Advisory Group. Sloane continues, "In this rapidly developing field, it is necessary to have a firm understanding of the potential and limitations of the technology, including anticipated challenges in tailoring it to meet your market needs. It is time for all payments and financial entities to learn about privacy concerns and legislation, new developments, and the partnership opportunities in biometrics."
Highlights of the research note include:
- Overview of biometric authentication
- Leading developments in this sector, including the rise of behavioral biometrics in fraud detection and prevention
- Analysis of the U.S. regulatory landscape and the challenges faced by companies interested in consumer biometrics
- Multiple case studies on the implementation of biometric authentication in retail, banking, card payments, and digital payments
- Recommendations on partnership and revenue growth opportunities
This document contains 27 pages and 9 exhibits.
Companies mentioned in this research note include: Fujitsu, Royal Bank of Scotland, Callsign, Visa, MasterCard, Apple, Amazon
Members of Mercator Advisory Group's Credit Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.
Media Contact
Karen Yetter, Mercator Advisory Group, 781-419-1700, [email protected]
SOURCE Mercator Advisory Group
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