On the Expected Increase of Mobile Transactions Authenticated Through Biometrics
Biometrics, the identification of specific individuals by unique physical characteristics – like fingerprints,
irises, or facial features – promises greater convenience and security than traditional
methods since physical features cannot be lost or forgotten. Our study explores practical implementations
of biometrics, especially its projected growth in the field of mobile transactions.
Our study supports the claim that usage of biometric systems, especially in the authentication
of mobile transactions, will significantly increase despite security and privacy breaches. Because
biometrics is a relatively new technology with little previous data, we circumvent this issue by
correlating its usage to that of smart phones to analyze statistics to create regression analyses.
According to our findings, the number of biometric users will increase from $7.72 billion in 2014
to $10.26 billion in 2019, thus it would be prudent to invest in biometrics by implementing more
systems, and creating more reliable systems based on new standards.