Consumers Prefer Biometrics over Social, Smartphone Payments

For security-conscious shoppers, paying for goods and services using biometrics (fingerprint, palm and iris) is the most popular future technology choice, according to new research from WorldPay, a global payments processing organization.

One in two people surveyed (49 percent) say they would like to have biometric payments, fair outweighing the popularity of mobile technology options, according to a summary on Planet Biometrics.

Thirty percent would like to use PIN-based smartphone payments, 25 percent want online wallets and 23 percent are looking to SMS payments. Paying through social media was the least popular choice (12 percent).

Only one in five people (20 percent) have already made a payment of some kind via smartphone, but more of them are using mobile devices for research and reporting in-store:

45% are using smartphones for “show-rooming:” choosing to browse in-store and purchase online later
45% check prices via mobile device
31% comment on their shopping experience on social media
28% download vouchers and coupons

What do you think?

Will future retail be run by biometrics-powered purchases? Tell us your thoughts in the comments section.

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