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Face-swiping Payment Market Size, Share & Trends Analysis Report By Type (Payment Equipment, Payment System), By Application, By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 110 Pages
  • May 2023
  • Region: Global
  • Grand View Research
  • ID: 5681769
The global face-swiping payment market size is expected to reach USD 18.46 billion by 2030, expanding at a CAGR of 19.9% from 2023 to 2030. The rise in digitalization led by the COVID-19 pandemic and the increasing penetration of the internet across the globe is anticipated to drive market growth. Furthermore, the growing adoption of face-swiping payments and increasing investments in the technology by various market players such as Mastercard, Alipay, and PopID, Inc. are anticipated to fuel market’s growth over the forecast period.

The increasing investments by venture capital firms and other fintech companies in a tech start-up’s to help them expand their product portfolios and strengthen their market position is anticipated to fuel market’s growth. For instance, in June 2022, PayByFace B. V., a biometric payment POS platform provider, announced that it received a strategic investment from a Fintech firm named SafexPay. The investment was aimed towards accelerating the growth of PayByFace B. V. face biometric payment solution to a global level.

Face swiping technology enables consumers to make purchases simply by portraying in front of camera-equipped point-of-sale (POS) machines, which results in quicker and more secure face payments. Furthermore, the mobile wallet providers such as Alipay and others have extended support for the face swipe feature to enable users to make faster payments. Thus, such ongoing trends are expected to further drive the market growth over the forecast period.

The global pandemic has been favorable to market growth. The growing demand for biometrics for verification, or unlocking mobile phones has made consumers familiar with the use of biometrics which is anticipated to create new growth opportunities for the face-swiping payment industry. For instance, according to the 2021 survey by IDEMA, 84% of the respondents use the biometric authentication method, out of which around 43% of the respondent have used facial biometrics for unlocking smartphones.

Face-swiping Payment Market Report Highlights

  • The payment system segment is expected to witness rapid growth over the forecast period. The growth can be attributed to the growing investments in face-recognition technology for introducing biometric face-swiping payments
  • The travel segment is projected to witness a steady growth over the forecast period. The rising demand for AI-enabled payment platforms for fare collection in the various modes of transport such as buses and metros, among others is anticipated to fuel the growth of the segment in the forecast period
  • Asia Pacific dominated the industry in 2022. The growing adoption of face-enabled payment terminals across the region is expected to propel the regional growth

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.4 Information Analysis
1.4.1 Market Formulation & Data Visualization
1.4.2 Data Validation & Publishing
1.5 Research Scope And Assumptions
1.6 List To Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Face-Swiping Payment Market Variables And Trends
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.2.1 Software Solution Provider Outlook
3.2.2 Hardware Solution Provider Trends
3.2.3 Merchants
3.2.4 End Use
3.3 Market Dynamics
3.3.1 Market Driver Impact Analysis
3.3.1.1 Heightened Use Of Facial Recognition Technology Across Industries
3.3.1.2 Rising Preference For Digital Payments Among Customers
3.3.2 Market Challenge Impact Analysis
3.3.2.1 Evolving Legal Framework And Privacy Concerns
3.3.1 Market Opportunity Impact Analysis
3.3.1.1 Rising Partnerships Between Companies And Influx Of Private Investments For Facial Recognition Capabilities
3.4 Impact Of Covid-19 Pandemic
3.5 Industry Analysis Tools
3.5.1 Porter’s Analysis
3.5.2 Pestel Analysis
3.6 Comparison Of Face-Swiping Payment Method With Other Payment Methods
Chapter 4 Face-Swiping Payment Market: Type Estimates & Trend Analysis
4.1 Type Movement Analysis & Market Share, 2022 & 2030
4.2 Face-Swiping Payment Market Estimates & Forecast, By Type
4.2.1 Payment Equipment
4.2.1.1 Pos Equipment
4.2.1.2 Kiosk
4.2.2 Payment System
Chapter 5 Face-Swiping Payment Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030
5.2 Face-Swiping Payment Market Estimates & Forecast, By Application
5.2.1 Retail
5.2.2 Restaurant
5.2.3 Travel
5.2.4 Others
Chapter 6 Face-Swiping Payment Market: Regional Estimates & Trend Analysis
6.1 Face-Swiping Payment Market: Regional Outlook
6.2 North America
6.2.1 North America Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.2.2 U.S.
6.2.2.1 U.S. Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.2.3 Canada
6.2.3.1 Canada Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.3 Europe
6.3.1 Europe Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.3.2 Uk
6.3.2.1 Uk Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.3.3 Germany
6.3.3.1 Germany Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.3.4 France
6.3.4.1 France Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.4 Asia Pacific
6.4.1 Asia Pacific Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.4.2 China
6.4.2.1 China Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.4.3 India
6.4.3.1 India Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.4.4 Japan
6.4.4.1 Japan Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.4.5 South Korea
6.4.5.1 South Korea Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.4.6 Australia
6.4.6.1 Australia Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.5 Latin America
6.5.1 Latin America Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.5.2 Brazil
6.5.2.1 Brazil Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.5.3 Mexico
6.5.3.1 Mexico Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.6 Mea
6.6.1 Mea Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.6.2 Uae
6.6.2.1 Uae Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.6.3 Kingdom Of Saudi Arabia (Ksa)
6.6.3.1 Kingdom Of Saudi Arabia (Ksa) Face-Swiping Payment Market Estimates & Forecasts, 2017 - 2030 (USD Million)
6.6.4 South Africa
6.6.4.1 South Africa face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Chapter 7 Face-swiping Payment Market - Competitive Landscape
7.1 Company Categorization
7.2 Participant’s Overview
7.2.1 POPID, INC.
7.2.2 FACEPAY
7.2.2 PAYBYFACE B.V.
7.2.4 VISIONLABS
7.2.5 TELEPOWER COMMUNICATION CO., LTD. (TELPO)
7.2.6 PAX GLOBAL TECHNOLOGY LIMITED.
7.2.7 CLOUDWALK TECHNOLOGY CO., LTD.
7.2.8 ALIPAY
7.2.9 NEC CORPORATION
7.2.10 SNAPPAY INC.
7.2.11 MASTERCARD
7.3 Financial Performance
7.4 Product Benchmarking
7.5 Company Market Positioning
7.6 Company Market Share Analysis, 2022
7.7 Company Heat Map Analysis
7.8 Strategy Mapping
7.8.1 Expansion
7.8.2 Collaborations
7.8.3 New Product Launches
List of Tables
Table 1 Partnerships for facial recognition capabilities
Table 2 Comparison of face - swiping payment method with other payment methods
Table 3 Global face - swiping payment market, by type, 2017 - 2030 (USD Million)
Table 4 Global face - swiping payment market, by application, 2017 - 2030 (USD Million)
Table 5 Company Market Share, 2022
Table 6 Company Heat Map Analysis
Table 7 Key Companies undergoing expansions
Table 8 Key Companies undergoing collaborations
Table 9 Key Companies launching new products
List of Figures
Fig. 1 Face-swiping payment market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Competitive landscape snapshot
Fig. 9 Digital payment market value, 2022 (USD Billion)
Fig. 10 Face-swiping payment market - Industry value chain analysis
Fig. 11 Face-swiping payment market dynamics
Fig. 12 Face technology market size in China, 2019 - 2021, (in USD billion)
Fig. 13 Global digital payments, 2019 - 2020, (in percentage)
Fig. 14 Face-swiping payment market: PORTER’s analysis
Fig. 15 Face-swiping payment market: PESTEL analysis
Fig. 16 Face-swiping payment market, by type: key takeaways
Fig. 17 Face-swiping payment market, by type: market share, 2022 & 2030
Fig. 18 Face-swiping payment equipment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 19 Face-swiping payment POS equipment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 20 Face-swiping payment kiosk market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 21 Face-swiping payment system market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 22 Face-swiping payment market, by application: key takeaways
Fig. 23 Face-swiping payment market, by application: market share, 2022 & 2030
Fig. 24 Face-swiping payment market in retail estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 25 Face-swiping payment market in restaurant estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 26 Face-swiping payment market in travel estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 27 Face-swiping payment market in others estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 28 Face-swiping payment market revenue, by region, 2022 & 2030 (USD Million)
Fig. 29 Regional marketplace: Key takeaways
Fig. 30 Regional marketplace: Key takeaways
Fig. 31 North America face-swiping payment market estimates & forecasts, 2017 - 2030 (USD million)
Fig. 32 U.S. face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 33 Canada face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 34 Europe face-swiping payment market estimates & forecasts, 2017 - 2030 (USD million)
Fig. 35 UK face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 36 Germany face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 37 France face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 38 Asia Pacific face-swiping payment market estimates & forecasts, 2017 - 2030 (USD million)
Fig. 39 China face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 40 India face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 41 Japan face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 42 South Korea face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 43 Australia face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 44 Latin America face-swiping payment market estimates & forecasts, 2017 - 2030 (USD million)
Fig. 45 Brazil face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 46 Mexico face-swiping payment market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 47 MEA face-swiping payment market estimates & forecasts, 2017 - 2030 (USD million)
Fig. 48 UAE face-swiping payment market estimates & forecasts, 2017 - 2030 (USD million)
Fig. 49 Kingdom of Saudi Arabia (KSA) face-swiping payment market estimates & forecasts, 2017 - 2030 (USD million)
Fig. 50 South Africa face-swiping payment market estimates & forecasts, 2017 - 2030 (USD million)
Fig. 51 Key Company Categorization
Fig. 52 Company market positioning
Fig. 53 Company Market Share Analysis, 2022
Fig. 54 Strategic framework

Companies Mentioned

  • POPID, INC.
  • FACEPAY
  • PAYBYFACE B.V.
  • VISIONLABS
  • TELEPOWER COMMUNICATION CO., LTD. (TELPO)
  • PAX GLOBAL TECHNOLOGY LIMITED.
  • CLOUDWALK TECHNOLOGY CO., LTD.
  • ALIPAY
  • NEC CORPORATION
  • SNAPPAY INC.
  • MASTERCARD

Methodology

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