This session explores makes the distinction between biometric-initiated transactions (BITs) and Biometrics Authentication for Payments. While the industry has explored biometrics authentication for payments like the use of CDCVM and passkeys, today, there is a concrete move towards Biometrics Initiated Transactions (BIT) where the human body itself is becoming the most natural and secure way to pay. It is a natural and inevitable evolution of physical cash, cards, mobile, devices — Human.
The session will examine what it takes to scale Biometrics Initiated Transactions as well as what else is needed to create a globally interoperable network that accepts the human body as a form of payment initiation. It will also touch how a biometrics initiated transaction will not be tied to just cards as a payment method. In fact, biometrics initiation is the perfect vehicle to enable alternative payment methods at the Point of Interaction. While enabling new end to end use cases and experiences for the consumers and both topline and bottom line opportunities for merchants.
