Biometric payment cards are expected to play a major role in a trend towards the use of multi-factor contactless transactions in the aftermath of COVID-19, ABI Research forecasts based on new research.
Contactless payment card issuances are expected to increase by 110 million more than previously expected to more than 2 billion in 2020, driven by demand for touchless interactions due to the pandemic. The new numbers mean that issuance estimates are up 6 to 8 percent from estimates made prior to the pandemic, for total year-over-year growth of 14 percent. Nearly two out of three new cards this year are expected to be contactless.
Sthaler is an early stage identity and payments technology business which enables a consumer to identify themselves and pay using just their finger at retail points of sale. The company developed Fingopay, using VeinID technology, in partnership with Hitachi. Blue Star Capital PLC (LON:BLU) is an investing company with a focus on new technologies. Blue Star’s investments include a 0.9% holding in Sthaler.