{"id":17648,"date":"2024-07-01T14:38:40","date_gmt":"2024-07-01T13:38:40","guid":{"rendered":"https:\/\/telecomkh.info\/?p=17648"},"modified":"2024-07-01T14:38:40","modified_gmt":"2024-07-01T13:38:40","slug":"biometric-in-store-payments-to-boost-besieged-retail-market-with-46-billion-biometric-enabled-transactions-forecast-globally-by-2028","status":"publish","type":"post","link":"https:\/\/telecomkh.info\/?p=17648","title":{"rendered":"Biometric in-store payments to boost besieged retail market, with 46 billion biometric-enabled transactions forecast globally by 2028"},"content":{"rendered":"<p><strong>A new study by Juniper Research, the foremost experts in fintech markets, forecasts a substantial growth of 138% in the number of transactions carried out via biometric-enabled POS terminals, up from 19.5 billion in 2023<\/strong><\/p>\n<p>Biometric in-store payments enable consumers to pay in-store through different biometrics, including palm vein, facial &amp; iris recognition, and fingerprints.<br \/>\nThe research found that in-store biometrics can enable a better consumer experience; allowing retailers to create a highly differentiated in-store offering. This differentiation is key for the under pressure in store retail sector, which faces stronger than ever competition from eCommerce, alongside reduced consumer spending, due to the cost-of-living crisis in many markets.<\/p>\n<p><strong>Biometrics Vital in Improving Consumer Experience<\/strong><br \/>\nThe report emphasises the importance of biometrics when it comes to improving consumer experience in bricks-and-mortar retail. As retailers compete more fiercely for customers, providing a strong in-store experience is vital for success.<br \/>\nResearch co-author Melissa Amouny commented: \u201cThe physical nature of bricks-and-mortar stores is one of its only remaining competitive edges, therefore stores must implement convenient payment methods like biometrics to maximise this. These changes will make retail stores more distinctive destinations for shoppers, boosting their resilience.\u201d<\/p>\n<p><strong>Companies Must Invest to Remain Competitive<\/strong><br \/>\nThe research found that while biometric payment systems have high initial costs, they can deliver a return on investment in the longer term by further automating checkout processes.<br \/>\nWhile retailers are reluctant to invest at a time of strict budgetary controls, they must prioritise investments in biometric in-store payments now to ensure they do not get left behind by more agile competitors.<\/p>\n<p><span style=\"color: #999999;\"><em>Above, image credited to Juniper Research<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new study by Juniper Research, the foremost experts in fintech markets, forecasts a substantial growth of 138% in the number of transactions carried out via biometric-enabled POS terminals, up from 19.5 billion in 2023 Biometric in-store payments enable consumers to pay in-store through different biometrics, including palm vein, facial &amp; iris recognition, and fingerprints. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/telecomkh.info\/?p=17648\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> \u00abBiometric in-store payments to boost besieged retail market, with 46 billion biometric-enabled transactions forecast globally by 2028\u00bb<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":17649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[66],"tags":[],"_links":{"self":[{"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/posts\/17648"}],"collection":[{"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17648"}],"version-history":[{"count":1,"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/posts\/17648\/revisions"}],"predecessor-version":[{"id":17650,"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/posts\/17648\/revisions\/17650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/media\/17649"}],"wp:attachment":[{"href":"https:\/\/telecomkh.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}