JP Morgan has unveiled two proprietary biometric-enabled in-store payment terminals that will be offered to retailers later this year.
Global biometric payments are expected to reach $5.8 trillion and three billion users by 2026, according to Goode Intelligence.
JPMorgan Payments has been carrying out pilots for over a year as it prepares to bring the technology to its huge merchant client base.
Now, the Wall Street giant has unveiled the JP Morgan Paypad, a payment tablet, and JP Morgan Pinpad, a payment pin pad.
The machines will enable merchants to securely accept a wide range of payment methods, including chip, contactless, swipe, QR code and, thanks to facial recognition and infrared palm vein cameras, biometric authentication.
The Paypad and Pinpad are slated for release in the US in the second half of 2025, with plans for an international rollout to follow.