UBS forecasts widespread adoption of biometric payment cards

Biometric payment cards containing a built-in fingerprint sensor could generate more than US$5bn in global banking revenue and account for 15% of the market by 2026, according to a forecast by analysts at Swiss bank UBS.

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The forecast states that: “in the past few years more than 23 pilots were reported with three commercial launches ongoing” and that the shift to biometric payment cards “will gain traction amid declining card production costs, the coronavirus (Covid-19) pandemic accelerating the need for contactless solutions and successful pilots and launches of the technology over 2021,” Proactive Investors reports.

BNP Paribas announced in January that it is to make biometric payment cards available to its Visa Premier card customers.

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