GVR Report cover Biometric Payment Cards Market Size, Share & Trends Report

Biometric Payment Cards Market Size, Share & Trends Analysis Report By Card Type, By End Use, By Region, And Segment Forecasts, 2021 To 2028

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  • Report ID: GVR451582
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The global biometric payment cards market is expected to witness significant growth over the forecast period. A biometric payment card combines fingerprint sensors with the chip in order to safely and conveniently verify the cardholder’s identity during the purchases. The sensor in the chip allows the users to authenticate transactions by means of their fingerprints before commencing a payment. The information processing takes place within the cards, so there are no additional requirements of Personnel Identification Number (PIN) for merchants during the transaction process. The demand for biometric payment cards is expected to increase owing to its benefits, such as high security, high payment processing speed, and others.

Global Biometric Payment Cards Market Segmentation



Card Type

Credit Cards; Debit Cards

End Use

Retail; Transportation; Healthcare; Hospitality; Government; Others


North America; Europe; Asia Pacific; Latin America; Middle East & Africa


Venture capital firms across the globe are focusing on investing in biometric payment card providers. According to a report in TechCrunch, in January 2019, Zwipe, the biometric payment company, had raised USD 14 million in venture funding. The funding came the way of a Series B round which was raised by providing 6 million new shares. Furthermore, about 2,300 investors participated ahead of a listing on the Merkur Market, Oslo Bors. The company is expected to use this funding towards commercializing its technology, which implants a fingerprint reader in payment plastic for added security.

The growing concerns among customers over the need for additional security while making card payments is driving the demand for biometric payment cards. According to a survey conducted by Fingerprint Cards AB, a biometrics company based in Sweden, in 2018, 38% of consumers globally were worried about the lack of security in their contactless cards if lost or stolen. Apart from security, some cardholders were also worried about the time spent at the point of sale in recalling their card PIN.  Biometric payment cards would allow such customers to make payments merely by tapping their card and paying for any amount with enhanced security.

Several companies are striking partnerships for offering biometric payment cards, which is emerging as one of the major factors driving the growth of the market. For instance, in April 2019, Zwipe, a biometric technology company, announced a partnership with TAG Systems Group, a card manufacturer based in Europe. The partnership envisaged the two companies launching a commercial biometric card, which includes a secure at-home enrolment solution.

However, the high costs associated with biometric payment cards as compared to conventional chip cards are expected to hinder the growth of the market. While a conventional EVM chip card costs around USD 1 to USD 2, a biometric card costs approximately USD 20. As a result, banks would have no other option but to pass the cost of biometric payment cards to their customers. For instance, in January 2021, BNP Paribas, a retail banking company, announced that its Visa Premier card would have an option for biometric payment, for which the bank would charge an additional USD 29 to its customers.

The efforts being pursued by various companies to offer biometric debit cards to their customers. For instance, in December 2020, IDEMIA, an identity company, partnered with Rocker, a fintech company based in Sweden. Through this partnership, Rocker offered biometric payment cards in Sweden. The strong emphasis companies are putting on launching biometric payment cards for ensuring secure and authorized transactions at in-store terminals. For instance, in October 2020, Mastercard announced a partnership with MatchMove, a fintech company based in Singapore, and IDEMIA to pilot biometric payment cards in Asia to provide enhanced security while making contactless payments at in-store payment terminals. North America is home to several major biometric payment card providers. For instance, in March 2021, Tag Systems announced a partnership with Zwipe to issue new biometric payment cards to customers in North America and Europe.

The key players operating in the biometric payment cards market include bio-idz, BNP Paribas, Goldpac Fintech, IDEX Biometrics ASA, Infineon Technologies AG, Mastercard, NXP Semiconductors, Thales Group, Visa Inc., and Zwipe, among others. All these market players are pursuing various organic and inorganic growth strategies, such as strategic partnerships and collaborations, mergers & acquisitions, and new product launches, to expand their presence in the global market.

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