Biometric Payment Market Report 2026

The biometric payment market size has grown rapidly in recent years. It will grow from $11.74 billion in 2025 to $13.72 billion in 2026 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to increasing digital payment adoption, rising concerns over payment fraud, expansion of smartphone penetration, growth in contactless payment infrastructure, early deployment of biometric authentication devices.

The biometric payment market size is expected to see rapid growth in the next few years. It will grow to $25.7 billion in 2030 at a compound annual growth rate (CAGR) of 17%. The growth in the forecast period can be attributed to increasing regulatory support for digital identity, rising investments in biometric hardware and software, growing consumer preference for frictionless payments, expansion of biometric payments in emerging markets, increasing integration with mobile wallets. Major trends in the forecast period include increasing adoption of contactless biometric payments, rising integration of multimodal authentication systems, growing deployment of biometric smart cards, expansion of biometric payments in retail and transit, enhanced focus on fraud prevention and security.

The increasing adoption of smartphones is expected to drive the growth of the biometric payment market in the coming years. A smartphone is a multifunctional electronic device that combines mobile communication capabilities with computing functions. Smartphones are widely used for biometric payments, which rely on an individual’s unique physiological or behavioral traits to authenticate identity and authorize secure transactions. Biometric payments enable users to approve transactions using features such as fingerprints, facial recognition, or iris scans, enhancing security while enabling faster and more convenient payment experiences. For example, in June 2024, according to Ericsson, a Sweden-based telecommunications company, the number of mobile subscriptions in the region is projected to rise from 1.2 billion in 2023 to 1.3 billion by 2029. Therefore, the expanding use of smartphones is contributing to the growth of the biometric payment market.

Major companies operating in the biometric payment market are increasingly focused on developing advanced solutions, such as biometric and wearable glass-based authentication for digital payments, to meet growing demand for secure, seamless, and user-friendly transaction methods. Biometric payment technologies utilize unique biological identifiers or wearable-enabled authentication to validate transactions, providing a more intuitive and secure alternative to traditional PIN-based payment systems. For instance, in October 2025, the National Payments Corporation of India (NPCI), an India-based payments infrastructure organization, launched biometric and wearable glass authentication for UPI payments. This innovation allows users to authenticate UPI transactions using fingerprint or facial recognition data stored on their devices, removing the need to enter a UPI PIN for eligible transactions. Additionally, wearable smart glasses enable users to complete small-value transactions through voice commands and QR code scanning without requiring a smartphone or PIN.

In August 2023, SentryCard Technologies Inc., a US-based provider of security and authentication solutions, merged with X-Core Technologies. This merger enables Sentry Enterprise to deliver enhanced capabilities and a broader portfolio of products to customers worldwide. The combined entity aims to introduce innovative offerings across identity management, payment solutions, access control, and crypto-related markets. X-Core Technologies is a US-based company specializing in intelligent card device development for the payment industry.

Major companies operating in the biometric payment market are Apple Inc., Alphabet Inc., Samsung Electronics Co Ltd., Alibaba Group Holding Limited, Fingerprint Cards AB, Tencent b-bldings Limited, Fujitsu Ltd, Visa Inc., Paypal Holdings, NEC Corporation, Mastercard Incorporated, Safran S.A., Thales Group, NXP Semiconductors N.V., ASSA ABLOY Group, Ant Group, Gemalto, PagSeguro Digital Ltd., IDEMIA, Cielo SA, Verifone Systems. Inc, StoneCo Ltd., Linxens Holding SAS, Network International Holdings plc., KONA I Co Ltd., Suprema Inc., Payconiq International SA, Mada Communications Int'l, Precise Biometrics, CardLab Inc.

North America was the largest region in the biometric payment market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biometric payment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the biometric payment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The biometric payments market consists of revenues earned by entities by providing services such as digital identity services, cloud-based biometric authentication services, and multi-factor authentication services. The market value includes the value of related goods sold by the service provider or included within the service offering. The biometric payments market also includes sales of fingerprint scanners, facial recognition cameras, palm vein scanners, scanning devices, biometric systems, smart card readers, and wearable devices that are used in providing biometric payment services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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