Biometric technology is used in the retail sector for identification, authentication and access control, but also offers retailers an opportunity to improve and personalise their customer experience.
Biometric technology has seen an increase in use in the retail sector over the past few years, with retailers introducing more options that enable customers to shop more safely, both online and in-store. Biometrics simplify and secure payments – something that has become imperative in recent years, as increases in payment fraud have motivated retailers to implement stronger authentication systems. The consumer demand for contactless payment solutions has also increased, and today's shoppers are increasingly turning to retailers that can provide personalised service, unobtrusive security and fast, easy payment solutions.
The retail and FMCG sectors have the potential to use biometrics for payments, security, analytics, marketing, personalisation and automation, with additional innovations being developed all the time. In light of the increasing theft of confidential user information by hackers to commit fraud, the financial sector has already started adopting fail-safe systems that use biometric authentication – because biometric identification is unique to the individual and cannot be replicated, so it is highly accurate and secure. This means that payment and card systems enabled by biometrics are proving to be a powerful weapon in the fight against fraudulent transactions, and biometric technology in the retail and FMCG industries in particular, is providing a fast, simple and safe means to conduct business.