Biometrically Authenticated Remote Mobile Payments to Reach $1.2 Trillion Globally by 2027

A new study from Juniper Research has found that the value of biometrically authenticated remote mobile payments will reach $1.2 trillion globally by 2027; rising from $332 billion in 2022.

These transactions use biometrics, typically facial and fingerprint recognition, to authenticate remote mobile payments.

This growth of 365% is driven by recent regulatory changes, with the introduction of SCA (Strong Customer Authentication) pushing greater adoption.  

The new research, Mobile Payment Biometrics: Key Opportunities, Regional Analysis & Market Forecasts 2022-2027, identified OEM (Original Equipment Manufacturer)-Pay solutions, including Apple Pay, as a driver of mobile payment biometrics adoption. The report urged OEM-Pay vendors to use their influence over smartphone design to enhance built-in biometric systems within devices and ensure that security is maintained as new threats emerge.