A new study by Juniper Research forecasts a 138% growth in the number of transactions carried out via biometric-enabled Point of Sale (POS) terminals, rising from 19.5 billion in 2024. Biometric in-store payments, which allow consumers to pay through different biometrics such as palm vein, facial & iris recognition, and fingerprints, are predicted to enhance the consumer experience and enable retailers to create a highly differentiated in-store offering.

The research emphasises the importance of biometrics in improving consumer experience in bricks-and-mortar retail. Research co-author Melissa Amouny suggests that stores must implement convenient payment methods like biometrics to maximise their competitive edge. "The physical nature of bricks-and-mortar stores is one of its only remaining competitive edges, therefore stores must implement convenient payment methods like biometrics to maximise this. These changes will make retail stores more distinctive destinations for shoppers, boosting their resilience," says Amouny.

While the initial costs of biometric payment systems may be high, the research found that they can deliver a return on investment in the longer term by further automating checkout processes. Retailers are advised to prioritise investments in biometric in-store payments now to ensure they do not get left behind by more agile competitors.