J.P. Morgan to pilot biometrics-based payments for merchants
Biometrics payments to bring speed and efficiency benefits to U.S. merchants and their customers, as J.P. Morgan Payments bolsters broader offering to merchants with Commerce Solutions launch.
New York, March 23, 2023 – J.P. Morgan will begin piloting biometrics-based payments with select retailers in the U.S. This is the first pilot solution to launch from J.P. Morgan Payments’ new Commerce Solutions suite of products, dedicated to helping merchants adapt to the rapidly evolving payments landscape.
Its biometrics-based payment pilot includes palm and face identification for payments authentication in-store and works on an enrol-capture-authenticate-pay basis. Global biometric payments are expected to reach $5.8T and 3B users by 2026, according to Goode Intelligence.
J.P. Morgan Payments’ biometrics pilot offering should allow for fast, secure and simple checkout experiences for its merchants’ customers, delivering a modern payments experience to enhance customer loyalty. As the leading global merchant acquirer, J.P. Morgan Payments is uniquely positioned to enable this solution to meet shopper expectations without compromising security and reliability.