JPMorgan Chase is planning a broad rollout of biometric payments with US retailers by early next year, enabling shoppers to make purchases by scanning their palms or faces. Global biometric payments are expected to reach $5.8 trillion and three billion users by 2026, according to Goode Intelligence. Last year, JP Morgan signaled its intention to bring the technology to its huge merchant client base, partnering with biometrics specialist PopID to conduct a series of pilots. Now, the bank's executive director of biometrics and identity solutions, Prashant Sharma, tells Payments Dive that more pilots are set for this year before a wider rollout. “We would like every merchant to adopt this, but at the end of the day, it is going to be a merchant’s choice,” says Sharma. Sharma said that while ""there is a perceived sensitivity"" towards biometrics, ""we just don’t see this as a big risk.
JPMorgan Chase is planning a broad rollout of biometric payments with US retailers by early next year, enabling shoppers to make purchases by scanning their palms or faces. Global biometric payments are expected to reach $5.8 trillion and three billion users by 2026, according to Goode Intelligence. Last year, JP Morgan signaled its intention to bring the technology to its huge merchant client base, partnering with biometrics specialist PopID to conduct a series of pilots. Now, the bank's executive director of biometrics and identity solutions, Prashant Sharma, tells Payments Dive that more pilots are set for this year before a wider rollout. “We would like every merchant to adopt this, but at the end of the day, it is going to be a merchant’s choice,” says Sharma. Sharma said that while ""there is a perceived sensitivity"" towards biometrics, ""we just don’t see this as a big risk.