The Europe Biometric Payment Cards Market would witness market growth of 68.4% CAGR during the forecast period (2022-2028).
From the kind of an ear to a particular odor, an entity can use a variety of factors to verify someone's identification. Biometrics, the measuring, and evaluation of a person's unique biological and behavioral features make use of these cutting-edge tools. When it relates to payment cards, one feature that is quickly becoming recognized by banks and its customers is the modest fingerprint. Fingerprint recognition technology, which is already extensively used for recognition and authorization in smartphones and computers, is now being combined into debit, credit, and prepaid cards. Biometric payment cards are a significant movement in the financial services business, driven by a variety of variables such as changes in policy, technology, and user behavior.
While financial technical innovation is not a new concept in this region, funding for new technologies has expanded dramatically in recent years, and the rate of the invention is increasing exponentially. People of this region now use mobile devices to communicate with the bank. Many individuals use a range of innovative instruments that were not available a few years ago to make transactions, transfer money, and invest. All of such technologies can help both consumers and businesses by facilitating more access to banking and financial services, expanding options, and improving operational efficiency.
In areas like internet banking, online purchase and transfer services, peer-to-peer lending, and personal investment guidance and services, it can also help to break down national boundaries and boost competitiveness. In cases where physical cash cannot be utilized, the digital euro, a virtual form of central bank money, would provide consumers and companies with more options. The digital euro, on the other hand, would be a supplement to currency, which should continue to be readily available and used.
The Germany market dominated the Europe Biometric Payment Cards Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $216.7 Million by 2028. The UK market is estimated to grow at a CAGR of 67% during (2022 - 2028). Additionally, The France market would witness a CAGR of 69.7% during (2022 - 2028).
Based on Card Type, the market is segmented into Credit Cards and Debit Cards. Based on End Use, the market is segmented into Retail, Hospitality, Transportation, Healthcare, Government, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Biometric Payment Cards Market will Hit $2.9 Billion by 2028, at a CAGR of 69%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infineon Technologies AG, NXP Semiconductors N.V., Thales Group S.A., Visa, Inc., Mastercard, Inc., IDEX Biometrics ASA, Zwipe, Bio-idz, and Goldpac Group.
By Card Type
By End Use
By Country
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