Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Biometrics eyed for secure future payments

Adam Bender | May 30, 2014
Apple, PayPal adoption of fingerprints could lead the way, say payment officials in a conference in Sydney.

In 1996, the most common form of non-cash payment was cheques. Today, cheques are the least common and debit cards are most used, he said.

The use of cash is also decreasing fast, even for payments under $20 where cash is used the most. At its peak, cash was used for 77 per cent of all transactions but that has now now dropped to 53 per cent, he said.

"In theory, no one will be using cheques by 2017," said Kendall. However, they could stick around as long as 2025 because of older people unwilling to let go, he said.

 

Previous Page  1  2 

Sign up for CIO Asia eNewsletters.