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PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339118
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339118
Face Swiping Payment Market Share, Size, Trends, Industry Analysis Report, By Type (Payment Equipment, Payment System); By Application (Retail, Restaurant, Travel, Others); By Region; And Segment Forecasts, 2023 - 2032
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The global face swiping payment market size is expected to reach USD 29.74 billion by 2032, according to a new study by Polaris Market Research. The report "Face Swiping Payment Market Share, Size, Trends, Industry Analysis Report, By Type (Payment Equipment, Payment System); By Application (Retail, Restaurant, Travel, Others); By Region; And Segment Forecasts, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
COVID-19 pandemic has accelerated the adoption of digital technologies and e-commerce, including the use of face-swiping payment methods, as more consumers have shifted to online and mobile channels for their transactions. Additionally, the increasing penetration of the internet and smartphones across the globe is expected to create more opportunities for the adoption of face-swiping payment technology. As more people gain access to digital platforms and become comfortable with using technology for payments, the demand for secure and convenient payment options like face-swiping is likely to grow.
As consumers have become more comfortable with the use of biometrics for verification, this has created new growth opportunities for the face-swiping payment industry. Additionally, the pandemic has led to a growing demand for more secure and contactless payment options, which face-swiping payments can provide. The face-swiping payment technology enables users to make payments quickly and securely by using facial recognition technology. The mobile wallet providers such as Alipay have also incorporated this feature to make payments faster and more convenient for users.
Strategic investments from venture capital firms and fintech companies will provide face-swiping payment start-ups with the necessary funding to expand their product offerings and enhance their market presence. This will further fuel the growth of the face-swiping payment industry.
For instance, investment from the SafexPay is expected to help PayByFace expand its product offerings and reach a wider global audience, thereby driving the growth. Recently, Yahoo Japan, in April 2023 developed facial recognition technology for shopping and other payments. This will solve the problem of huge labor shortage in the country. Moreover, in May 2023, Airtel Payments Bank & NPCI in India, introduced Aadhar based payment system at around 500,000 units.
Poor lighting and low resolution can cause technical glitches while using the technology, which can result in failed authorization of the user. Additionally, the high costs involved in implementing this technology can be a barrier for many companies and governments, limiting its widespread adoption. Furthermore, there are concerns about the level of security provided by face-swiping payment solutions, particularly regarding the risk of identity theft and fraud.
Face Swiping Payment Market Report Highlights
Payment system segment is anticipated to grow at a faster rate. This growth is due to rise in investments in the technology & favorable government regulations
Retail segment registered steady growth, due to rise in demand of AI enabled fare collection systems in both private and public transport systems
APAC region is anticipated to hold the largest share due to favorable government initiatives and investments in the category
The global players include: PopID, Facepay, PayByFace, VisionLabs, Telepower Communications, PAX Global Technology, Alipay, NEC Corporation, SnapPay, Mastercard, and CloudWalk Technology.
Polaris Market Research has segmented the broth market report based on type, application, and region:
Face Swiping Payment, Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Payment Equipment
- POS Equipment
- Kiosk
- Payment System
Face Swiping Payment, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Retail
- Restaurant
- Travel
- Others
Face Swiping Payment, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Product Code: PM3498
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Face Swiping Payment Market Insights
- 4.1. Face Swiping Payment Market - Industry Snapshot
- 4.2. Face Swiping Payment Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Heightened Use Of Facial Recognition Technology Across Industries
- 4.2.1.2. Rising Preference For Digital Payments Among Customers
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Evolving Legal Framework And Privacy Concerns
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Face Swiping Payment Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Face Swiping Payment Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Face Swiping Payment, by Type, 2019-2032 (USD Billion)
- 5.3. Payment Equipment
- 5.3.1. Global Face Swiping Payment Market, by Payment Equipment, by Region, 2019-2032 (USD Billion)
- 5.3.2. POS Equipment
- 5.3.2.1. Global Face Swiping Payment Market, by POS Equipment, by Region, 2019-2032 (USD Billion)
- 5.3.3. Kiosk
- 5.3.3.1. Global Face Swiping Payment Market, by Kiosk, by Region, 2019-2032 (USD Billion)
- 5.4. Payment System
- 5.4.1. Global Face Swiping Payment Market, by Payment System, by Region, 2019-2032 (USD Billion)
6. Global Face Swiping Payment Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 6.3. Retail
- 6.3.1. Global Face Swiping Payment Market, by Retail, by Region, 2019-2032 (USD Billion)
- 6.4. Restaurant
- 6.4.1. Global Face Swiping Payment Market, by Restaurant, by Region, 2019-2032 (USD Billion)
- 6.5. Travel
- 6.5.1. Global Face Swiping Payment Market, by Travel, by Region, 2019-2032 (USD Billion)
- 6.6. Others
- 6.6.1. Global Face Swiping Payment Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Face Swiping Payment Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Face Swiping Payment Market Assessment, By Geography, 2019-2032 (USD Billion)
- 7.3. Face Swiping Payment Market - North America
- 7.3.1. North America: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.3.2. North America: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.3.3. Face Swiping Payment Market - U.S.
- 7.3.3.1. U.S.: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.3.3.2. U.S.: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.3.4. Face Swiping Payment Market - Canada
- 7.3.4.1. Canada: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.3.4.2. Canada: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.4. Face Swiping Payment Market - Europe
- 7.4.1. Europe: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.4.2. Europe: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.4.3. Face Swiping Payment Market - UK
- 7.4.3.1. UK: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.4.3.2. UK: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.4.4. Face Swiping Payment Market - France
- 7.4.4.1. France: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.4.4.2. France: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.4.5. Face Swiping Payment Market - Germany
- 7.4.5.1. Germany: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.4.5.2. Germany: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.4.6. Face Swiping Payment Market - Italy
- 7.4.6.1. Italy: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.4.6.2. Italy: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.4.7. Face Swiping Payment Market - Spain
- 7.4.7.1. Spain: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.4.7.2. Spain: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.4.8. Face Swiping Payment Market - Netherlands
- 7.4.8.1. Netherlands: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.4.8.2. Netherlands: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.4.9. Face Swiping Payment Market - Russia
- 7.4.9.1. Russia: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.4.9.2. Russia: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.5. Face Swiping Payment Market - Asia Pacific
- 7.5.1. Asia Pacific: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.5.3. Face Swiping Payment Market - China
- 7.5.3.1. China: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.5.3.2. China: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.5.4. Face Swiping Payment Market - India
- 7.5.4.1. India: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.5.4.2. India: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.5.5. Face Swiping Payment Market - Malaysia
- 7.5.5.1. Malaysia: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.5.5.2. Malaysia: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.5.6. Face Swiping Payment Market - Japan
- 7.5.6.1. Japan: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.5.6.2. Japan: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.5.7. Face Swiping Payment Market - Indonesia
- 7.5.7.1. Indonesia: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.5.7.2. Indonesia: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.5.8. Face Swiping Payment Market - South Korea
- 7.5.8.1. South Korea: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.5.8.2. South Korea: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.6. Face Swiping Payment Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.6.3. Face Swiping Payment Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.6.3.2. Saudi Arabia: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.6.4. Face Swiping Payment Market - UAE
- 7.6.4.1. UAE: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.6.4.2. UAE: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.6.5. Face Swiping Payment Market - Israel
- 7.6.5.1. Israel: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.6.5.2. Israel: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.6.6. Face Swiping Payment Market - South Africa
- 7.6.6.1. South Africa: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.6.6.2. South Africa: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.7. Face Swiping Payment Market - Latin America
- 7.7.1. Latin America: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.7.3. Face Swiping Payment Market - Mexico
- 7.7.3.1. Mexico: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.7.3.2. Mexico: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.7.4. Face Swiping Payment Market - Brazil
- 7.7.4.1. Brazil: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.7.4.2. Brazil: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- 7.7.5. Face Swiping Payment Market - Argentina
- 7.7.5.1. Argentina: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- 7.7.5.2. Argentina: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. PopID
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Facepay
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. PayByFace
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. VisionLabs
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Telepower Communications
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. PAX Global Technology
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Alipay
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. NEC Corporation
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. SnapPay
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Mastercard
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. CloudWalk Technology
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
Product Code: PM3498
List of Tables
- Table 1 Global Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 2 Global Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 3 Face Swiping Payment Market Assessment, By Geography, 2019-2032 (USD Billion)
- Table 4 North America: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 5 North America: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 6 U.S.: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 7 U.S.: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 8 Canada: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 9 Canada: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 10 Europe: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 11 Europe: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 12 UK: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 13 UK: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 14 France: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 15 France: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 16 Germany: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 17 Germany: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 18 Italy: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 19 Italy: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 20 Spain: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 21 Spain: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 22 Netherlands: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 23 Netherlands: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 24 Russia: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 25 Russia: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 26 Asia Pacific: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 27 Asia Pacific: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 28 China: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 29 China: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 30 India: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 31 India: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 32 Malaysia: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 33 Malaysia: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 34 Japan: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 35 Japan: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 36 Indonesia: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 37 Indonesia: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 38 South Korea: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 39 South Korea: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 40 Middle East & Africa: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 41 Middle East & Africa: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 42 Saudi Arabia: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 43 Saudi Arabia: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 44 UAE: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 45 UAE: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 46 Israel: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 47 Israel: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 48 South Africa: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 49 South Africa: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 50 Latin America: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 51 Latin America: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 52 Mexico: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 53 Mexico: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 54 Brazil: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 55 Brazil: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
- Table 56 Argentina: Face Swiping Payment Market, by Application, 2019-2032 (USD Billion)
- Table 57 Argentina: Face Swiping Payment Market, by Type, 2019-2032 (USD Billion)
List of Figures
- Figure 1 Global Face Swiping Payment Market, 2019-2032 (USD Billion)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by Application
- Figure 7 Global Face Swiping Payment Market, by Application, 2022 & 2032 (USD Billion)
- Figure 8 Market by Type
- Figure 9 Global Face Swiping Payment Market, by Type, 2022 & 2032 (USD Billion)
- Figure 10 Face Swiping Payment Market Assessment, By Geography, 2019-2032 (USD Billion)
- Figure 11 Strategic Analysis - Face Swiping Payment Market
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