JP Morgan to pilot biometric payments in the US
JP Morgan is set to pilot biometric-based payments with a select number of merchants in the US, as it launches its new Commerce Solutions suite of products.
The first pilots will be run with physical stores in the US and will include palm and face identification to authenticate payments and complete checkout.
JP Morgan says its biometric payments offering “should allow for fast, secure and simple checkout experiences” for merchant customers “without compromising security and reliability”.
Jean-Marc Thienpont, head of omnichannel solutions at JP Morgan Payments, says the company is “fully equipped to manage the highly secure identification points that power biometrics solutions”.
“The evolution of consumer technology has created new expectations for shoppers, and merchants need to be ready to adapt to these new expectations,” Thienpont adds.
If the pilot is successful, JP Morgan says it intends for a wider rollout to US merchants in 2024.
Alongside the pilot, JP Morgan Payments has also launched Commerce Solutions, its new suite of payment infrastructure applications built for merchants to easily accept consumer and B2B payments. The launch includes new cloud-based infrastructure for the firm’s online and in-store payments APIs, allowing for more streamlined deployment by businesses.