Global Face-swiping Payment Market Size, Share & Industry Trends Analysis Report By Type (Payment Equipment (POS Equipment and Kiosk) and Payment System), By Application (Retail, Restaurant, Travel, and Others), By Regional Outlook and Forecast, 2022 - 20

Global Face-swiping Payment Market Size, Share & Industry Trends Analysis Report By Type (Payment Equipment (POS Equipment and Kiosk) and Payment System), By Application (Retail, Restaurant, Travel, and Others), By Regional Outlook and Forecast, 2022 - 2028

The Global Face-swiping Payment Market size is expected to reach $11.9 billion by 2028, rising at a market growth of 17.4% CAGR during the forecast period.

A payment in which the payer and the recipient are physically located in the same spot. Face recognition uses mathematical algorithms to capture, extract, compare, and match a person's face with their identification. It collects physical samples via the scan and extracts data for comparative purposes.

Facial Swiping Payment technology combines face recognition technology, Token technology, PIN encryption technology, substantial data analysis, and artificial intelligence, with the face-gathering capabilities of the deriving terminal to capture user payment account information. This Face Swiping Payment Market mixes client performance and economic trends flawlessly to improve business concepts.

It also facilitates the duty of the company's significant leader by reducing the hazards associated with the activity. Increased use of technology by merchants and customers for small-value transactions, as well as the benefits of Face Swiping Payment, which includes reduced transaction time and a high level of convenience.

In addition, the incorporation of the Internet of Things (IoT) and developments in payment technologies are predicted to boost market expansion. In addition, the incorporation of risk control systems and intelligent algorithms with enormous validity and security, as well as the untapped potential of emerging economies, are expected to create attractive prospects for solution providers during the projection period.

COVID-19 Impact Analysis

Face Swiping Payment Market makes room for the development of sustainable financial goods for low-income and vulnerable populations by reducing hurdles such as lack of identity, formal income, and geographical distance. During COVID-19, the extraordinary growth of the face-scanning payment business raises the likelihood of fraud and misuse. In consequence, this Face Swiping Payment Market technology has acquired traction in major cities throughout the globe. Moreover, the increase in collaborations and launches of face-swiping technologies during the COVID-19 pandemic is anticipated to boost the growth of the business throughout the forecast period.

Market Growth Factors

Increasing Face Swiping Payment Market Adoption In Diverse Applications

The increasing use of face-scanning technology for a variety of purposes plays a crucial role in market growth. To improve the customer experience, several cities are attempting to implement Face Swiping Payment Market systems at bus and metro stations. For example, Moscow city announced the launch of Face Pay, a face-scanning payment system implemented at Mosmetro stations. Face Pay requires users to use the Mosmetro smartphone app, upload a photo, and link their bank accounts and metro cards to complete purchases effectively.

Compliance With Governmental Laws And Requirements

For businesses to maintain and preserve POS systems, they must conform to data privacy and protection regulations. This includes the PCI Data Security Standard (PCI DSS), which dictates the security standards for all companies that accept credit cards. Financial institutions mandate the PCI Security Standards Council, which is responsible for enforcing PCI DSS and monitoring its compliance, to supervise its execution. It is a comprehensive collection of regulations that enforce stringent data security controls and procedures on merchants and service providers who store, handle, or transfer customer credit card information.

Market Restraining Factors

Lack Of Staff Awareness About The Use Of Pos Systems

It is vital to ensure that POS systems are only accessible to screen employees who have been granted permission to use them. If no one is using POS systems, it is not necessary to instruct everyone on how to operate them. Access to POS systems must be restricted to only those with authorization and who can be trusted. When using a mobile POS device, there are additional complications. If the gadgets are portable, employees may erroneously take them home. Concerns might emerge over the security of sensitive data stored on the devices.

Type Outlook

Based on the Type, the Face-swiping Payment Market is segmented into Payment Equipment and Payment System. The payment equipment segment acquired the highest revenue share in the face-swiping payment market in 2021. It is due to the reasons such as the increasing popularity of cashier-free ordering kiosks at fast-food chains such as Wendy's and McDonald's. Moreover, eateries such as the burger brand CaliBurger have installed self-ordering kiosks using facial recognition technology and machine intelligence to allow consumers to order meals, make payments, and sign up for the business's loyalty program.

Application Outlook

By Application, the Face-swiping Payment Market is classified into Retail, Restaurant, Travel, and Others. The travel segment registered a significant revenue share in the face-swiping payment market in 2021. The rapid rise of face-swiping payment technology and the increasing inclination for touchless payments as a result of the pandemic is among the main variables that are anticipated to fuel the segment's growth. Moreover, many steps implemented by transportation firms to promote the adoption of face-recognition payment systems are further fostering segment expansion.

Regional Outlook

Region-wise, the Face-swiping Payment Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired the largest revenue share in the face-swiping payment market in 2021. Rising awareness of the benefits of face-swiping payment systems in nations such as India, China, and Japan is credited with the rapid spread. It is anticipated that the creative efforts of many regional enterprises to promote the usage of face-swiping payments would also contribute to regional growth.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ant Group (Alipay) (Alibaba Holding), NEC Corporation, Mastercard, Inc., PopID, Inc. (Cali Group), PayByFace B.V., VisionLabs (Mobile TeleSystems OJSC), SnapPay, Inc., CloudWalk Technology Co. Ltd., and PAX Global Technology Limited.

Scope of the Study

Market Segments covered in the Report:

By Type

  • Payment Equipment
  • POS Equipment
  • Kiosk
  • Payment System
By Application
  • Retail
  • Restaurant
  • Travel
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • Ant Group (Alipay) (Alibaba Holding)
  • NEC Corporation
  • Mastercard, Inc.
  • PopID, Inc. (Cali Group)
  • PayByFace B.V.
  • VisionLabs (Mobile TeleSystems OJSC)
  • SnapPay, Inc.
  • CloudWalk Technology Co. Ltd.
  • PAX Global Technology Limited
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Face-swiping Payment Market, by Type
1.4.2 Global Face-swiping Payment Market, by Application
1.4.3 Global Face-swiping Payment Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Face-swiping Payment Market by Type
3.1 Global Payment Equipment Market by Region
3.2 Global Face-swiping Payment Market by Payment Equipment Type
3.2.1 Global POS Equipment Market by Region
3.2.2 Global Kiosk Market by Region
3.3 Global Payment System Market by Region
Chapter 4. Global Face-swiping Payment Market by Application
4.1 Global Retail Market by Region
4.2 Global Restaurant Market by Region
4.3 Global Travel Market by Region
4.4 Global Others Market by Region
Chapter 5. Global Face-swiping Payment Market by Region
5.1 North America Face-swiping Payment Market
5.1.1 North America Face-swiping Payment Market by Type
5.1.1.1 North America Payment Equipment Market by Country
5.1.1.2 North America Face-swiping Payment Market by Payment Equipment Type
5.1.1.2.1 North America POS Equipment Market by Country
5.1.1.2.2 North America Kiosk Market by Country
5.1.1.3 North America Payment System Market by Country
5.1.2 North America Face-swiping Payment Market by Application
5.1.2.1 North America Retail Market by Country
5.1.2.2 North America Restaurant Market by Country
5.1.2.3 North America Travel Market by Country
5.1.2.4 North America Others Market by Country
5.1.3 North America Face-swiping Payment Market by Country
5.1.3.1 US Face-swiping Payment Market
5.1.3.1.1 US Face-swiping Payment Market by Type
5.1.3.1.2 US Face-swiping Payment Market by Application
5.1.3.2 Canada Face-swiping Payment Market
5.1.3.2.1 Canada Face-swiping Payment Market by Type
5.1.3.2.2 Canada Face-swiping Payment Market by Application
5.1.3.3 Mexico Face-swiping Payment Market
5.1.3.3.1 Mexico Face-swiping Payment Market by Type
5.1.3.3.2 Mexico Face-swiping Payment Market by Application
5.1.3.4 Rest of North America Face-swiping Payment Market
5.1.3.4.1 Rest of North America Face-swiping Payment Market by Type
5.1.3.4.2 Rest of North America Face-swiping Payment Market by Application
5.2 Europe Face-swiping Payment Market
5.2.1 Europe Face-swiping Payment Market by Type
5.2.1.1 Europe Payment Equipment Market by Country
5.2.1.2 Europe Face-swiping Payment Market by Payment Equipment Type
5.2.1.2.1 Europe POS Equipment Market by Country
5.2.1.2.2 Europe Kiosk Market by Country
5.2.1.3 Europe Payment System Market by Country
5.2.2 Europe Face-swiping Payment Market by Application
5.2.2.1 Europe Retail Market by Country
5.2.2.2 Europe Restaurant Market by Country
5.2.2.3 Europe Travel Market by Country
5.2.2.4 Europe Others Market by Country
5.2.3 Europe Face-swiping Payment Market by Country
5.2.3.1 Germany Face-swiping Payment Market
5.2.3.1.1 Germany Face-swiping Payment Market by Type
5.2.3.1.2 Germany Face-swiping Payment Market by Application
5.2.3.2 UK Face-swiping Payment Market
5.2.3.2.1 UK Face-swiping Payment Market by Type
5.2.3.2.2 UK Face-swiping Payment Market by Application
5.2.3.3 France Face-swiping Payment Market
5.2.3.3.1 France Face-swiping Payment Market by Type
5.2.3.3.2 France Face-swiping Payment Market by Application
5.2.3.4 Russia Face-swiping Payment Market
5.2.3.4.1 Russia Face-swiping Payment Market by Type
5.2.3.4.2 Russia Face-swiping Payment Market by Application
5.2.3.5 Spain Face-swiping Payment Market
5.2.3.5.1 Spain Face-swiping Payment Market by Type
5.2.3.5.2 Spain Face-swiping Payment Market by Application
5.2.3.6 Italy Face-swiping Payment Market
5.2.3.6.1 Italy Face-swiping Payment Market by Type
5.2.3.6.2 Italy Face-swiping Payment Market by Application
5.2.3.7 Rest of Europe Face-swiping Payment Market
5.2.3.7.1 Rest of Europe Face-swiping Payment Market by Type
5.2.3.7.2 Rest of Europe Face-swiping Payment Market by Application
5.3 Asia Pacific Face-swiping Payment Market
5.3.1 Asia Pacific Face-swiping Payment Market by Type
5.3.1.1 Asia Pacific Payment Equipment Market by Country
5.3.1.2 Asia Pacific Face-swiping Payment Market by Payment Equipment Type
5.3.1.2.1 Asia Pacific POS Equipment Market by Country
5.3.1.2.2 Asia Pacific Kiosk Market by Country
5.3.1.3 Asia Pacific Payment System Market by Country
5.3.2 Asia Pacific Face-swiping Payment Market by Application
5.3.2.1 Asia Pacific Retail Market by Country
5.3.2.2 Asia Pacific Restaurant Market by Country
5.3.2.3 Asia Pacific Travel Market by Country
5.3.2.4 Asia Pacific Others Market by Country
5.3.3 Asia Pacific Face-swiping Payment Market by Country
5.3.3.1 China Face-swiping Payment Market
5.3.3.1.1 China Face-swiping Payment Market by Type
5.3.3.1.2 China Face-swiping Payment Market by Application
5.3.3.2 Japan Face-swiping Payment Market
5.3.3.2.1 Japan Face-swiping Payment Market by Type
5.3.3.2.2 Japan Face-swiping Payment Market by Application
5.3.3.3 India Face-swiping Payment Market
5.3.3.3.1 India Face-swiping Payment Market by Type
5.3.3.3.2 India Face-swiping Payment Market by Application
5.3.3.4 South Korea Face-swiping Payment Market
5.3.3.4.1 South Korea Face-swiping Payment Market by Type
5.3.3.4.2 South Korea Face-swiping Payment Market by Application
5.3.3.5 Singapore Face-swiping Payment Market
5.3.3.5.1 Singapore Face-swiping Payment Market by Type
5.3.3.5.2 Singapore Face-swiping Payment Market by Application
5.3.3.6 Malaysia Face-swiping Payment Market
5.3.3.6.1 Malaysia Face-swiping Payment Market by Type
5.3.3.6.2 Malaysia Face-swiping Payment Market by Application
5.3.3.7 Rest of Asia Pacific Face-swiping Payment Market
5.3.3.7.1 Rest of Asia Pacific Face-swiping Payment Market by Type
5.3.3.7.2 Rest of Asia Pacific Face-swiping Payment Market by Application
5.4 LAMEA Face-swiping Payment Market
5.4.1 LAMEA Face-swiping Payment Market by Type
5.4.1.1 LAMEA Payment Equipment Market by Country
5.4.1.2 LAMEA Face-swiping Payment Market by Payment Equipment Type
5.4.1.2.1 LAMEA POS Equipment Market by Country
5.4.1.2.2 LAMEA Kiosk Market by Country
5.4.1.3 LAMEA Payment System Market by Country
5.4.2 LAMEA Face-swiping Payment Market by Application
5.4.2.1 LAMEA Retail Market by Country
5.4.2.2 LAMEA Restaurant Market by Country
5.4.2.3 LAMEA Travel Market by Country
5.4.2.4 LAMEA Others Market by Country
5.4.3 LAMEA Face-swiping Payment Market by Country
5.4.3.1 Brazil Face-swiping Payment Market
5.4.3.1.1 Brazil Face-swiping Payment Market by Type
5.4.3.1.2 Brazil Face-swiping Payment Market by Application
5.4.3.2 Argentina Face-swiping Payment Market
5.4.3.2.1 Argentina Face-swiping Payment Market by Type
5.4.3.2.2 Argentina Face-swiping Payment Market by Application
5.4.3.3 UAE Face-swiping Payment Market
5.4.3.3.1 UAE Face-swiping Payment Market by Type
5.4.3.3.2 UAE Face-swiping Payment Market by Application
5.4.3.4 Saudi Arabia Face-swiping Payment Market
5.4.3.4.1 Saudi Arabia Face-swiping Payment Market by Type
5.4.3.4.2 Saudi Arabia Face-swiping Payment Market by Application
5.4.3.5 South Africa Face-swiping Payment Market
5.4.3.5.1 South Africa Face-swiping Payment Market by Type
5.4.3.5.2 South Africa Face-swiping Payment Market by Application
5.4.3.6 Nigeria Face-swiping Payment Market
5.4.3.6.1 Nigeria Face-swiping Payment Market by Type
5.4.3.6.2 Nigeria Face-swiping Payment Market by Application
5.4.3.7 Rest of LAMEA Face-swiping Payment Market
5.4.3.7.1 Rest of LAMEA Face-swiping Payment Market by Type
5.4.3.7.2 Rest of LAMEA Face-swiping Payment Market by Application
Chapter 6. Company Profiles
6.1 Ant Group (Alipay) (Alibaba Holding)
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental Analysis
6.1.4 Recent strategies and developments:
6.1.4.1 Product Launches and Product Expansions:
6.2 NEC Corporation
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Research & Development Expenses
6.3 Mastercard, Inc.
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Regional Analysis
6.3.4 Recent strategies and developments:
6.3.4.1 Partnerships, Collaborations, and Agreements:
6.3.4.2 Product Launches and Product Expansions:
6.4 PopID, Inc. (Cali Group)
6.4.1 Company Overview
6.4.2 Recent strategies and developments:
6.4.2.1 Partnerships, Collaborations, and Agreements:
6.5 PayByFace B.V.
6.5.1 Company Overview
6.6 VisionLabs (Mobile TeleSystems OJSC)
6.6.1 Company Overview
6.7 SnapPay, Inc.
6.7.1 Company Overview
6.8 CloudWalk Technology Co. Ltd.
6.8.1 Company Overview
6.9 PAX Global Technology Limited
6.9.1 Company Overview

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