Different technology and consumer trends are converging to create a new opportunity in the payment space. On the one hand, biometric authentication is a reliable technology that has been deployed in a wide array of use cases, ranging from passports to mobile phones. With increased daily application, people have become used to biometric authentication and have learned to trust the technology.
On the other, there have been significant changes in digital payment behaviors. Customers have come to expect that making a payment is a user-friendly experience. Furthermore, they increasingly expect payment options to signal something positive about who they are. This is nothing new – after all, “gold,” “platinum,” or “black” credit cards have been around for a long time – but the trend is moving away from status thinking and toward more convenience.