A report by Juniper Research has found that facial recognition will likely become the fastest-growing use of biometric hardware on smartphones.
The report suggests that facial recognition will reach more than 800 million mobiles by 2024, up from an estimated 96 million during 2019, ATM Marketplace indicates. Juniper also found that advances have been made with companies including Mastercard and iProov to develop facial recognition that was strong enough to be used for payments and other high-end authentication needs.
Moreover, about 4.6 billion smartphones would have some form of fingerprint authentication built into the device by 2024. However, this availability and its use for payment would be less prevalent. Juniper’s report revealed that 60% of biometric authenticated payments would be used for remote purchases or ecommerce transactions.
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