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 in order 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.