How does the emergence of biometric technology compete with contactless payments?
The nature of different acceptance venues, multiple stakeholder goals, perception of value-add, consumer access, and readiness determine the type of deployment for emerging technologies. Many contactless payment programs benefit from the speed and convenience of contactless technology while leveraging the existing payment infrastructure. Biometric payment pilot deployments seek to validate goals unique to biometric technology and its stakeholders. Both technologies are exploring new ways to add convenience and value to payments.
