Biometrics 2020 Update, Part 2

Learn More About the Latest Developments in Biometrics For 2020

2020 has been an exciting year for the advancement of biometric technology around the world. As this technology becomes more commonplace it’s vital that every business owner who owns a micro market or vending route understands biometrics and how this technology may come into play in their business in the years to come.

In this article, we will dig deeper into what’s happening in biometrics including the challenges that this technology faces as it becomes more commonplace around the world.

What Are the Latest Biometrics Trends?

Mobile Biometric Technology – With more people accepting and preferring biometrics in 2020 it’s also becoming increasingly likely that we’re going to see mobile biometric technology in use worldwide.

To use mobile biometric technology, all a vending route or micro market business owner has to do is connect their mobile device to a USB cable or Wi-Fi connection and they will be able to offer their customers a safe way to pay for their food and beverages.

Multimodal Biometric Technology – Another interesting trend in the development of biometric technology is multimodal biometric solutions. With this technology, a business owner can offer consumers a secure way to pay that requires them to use two biometric characteristics.

Cloud–Based Biometrics – Thanks to cloud-based biometrics, business owners can cut down on their costs because all of their customer‘s data is sored in the cloud. With a cloud-based solution, a business owner can easily upgrade or downgrade their services (when needed) without having to incur a lot of costs.

Challenges That the Biometrics Industry Faces

With every new industry, there’s always going to be challenges along the way and the biometrics industry has weathered its share of challenges in recent years.

Privacy Violations – One of the top challenges that most biometrics companies face is privacy violations regarding how they collect and store their data.

In the United States, there isn’t a single biometric privacy law that’s in place but this most likely will change in the years to come as more states and countries adopt standards for how biometric data is collected and stored.

Cost to Business Owners – Although most consumers are open to using biometrics when paying for food, beverages and other things that they may use in daily life, the reality is that it can be costly for a business owner to update their payment systems so they can offer biometrics.

The good news is that as technology advances, more affordable biometric devices are entering the market and it’s possible for a vending or micro market business owner to purchase a new biometric device for under $1,000.

Reliability – Biometrics have been in use on a small scale for years and are only now starting to roll out on a large scale worldwide. The increased use of biometrics has also created reliability issues in some cases. Thankfully, biometrics don’t just encompass facial recognition in 2020, there is a wide variety of biometrics that can be utilized including voice recognition, behavioral, iris recognition, and fingerprint recognition as well.

Despite the short-term challenges that the biometrics industry has faced over the years, an individual’s biometrics are still better than any password and we can expect to see biometrics available everywhere in the years to come.

Some of the other well-known companies in the world that are developing their own biometric payment solutions include the following: