Biometric cards have strong potential, research unveiled

biometric

Biometric cards have strong potential, research unveiled. Source: shutterstock.com

Juniper Research has found that global payment card shipment revenue for tech companies will rise $11.7 billion in 2026, up from $9.7 billion in 2022. This 20% increase reflects new innovations emerging in the payment cards space while the roll-out of the contactless card is reaching its latter stages.

It is expected that the introduction of biometric cards, metal cards and dynamic CVV cards will become majorly disruptive trends over the next 5 years.

The research found that these new card types will help evolve the payment experience for the digital age, increasing security and useability. It would be making card usage more appealing in the face of increasing mobile-first payment innovations.

According to data, metal cards will account for over $4.4 billion in hardware revenue for technology providers globally in 2026, from $1.2 billion in 2022. The research identified the premium appearance of metal cards as highly appealing as a differentiator; driving their future growth.

Banks and card issuers need to differentiate themselves in order to retain relevance in the digital payments era – adding value to their services by using new card types can add significant value and reduce churn with existing relationships
Damla Sat, research co-author

The research also found that the use of biometric cards, which feature embedded fingerprint sensors, will grow significantly, with shipments expected to increase by almost 850% over the next 5 years to 173 million in 2026 globally.

Biometric cards will enable card payments to better compete with mobile payments, including Apple Pay and Google Pay, eventually allowing payment cards to have no transaction limits. The report recognised this development as critical in removing the barriers to growth for contactless payments.

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