JP Morgan is planning for a future with more biometric payments as its analysts say the technology has already become a part of daily life, and adoption is primed to accelerate.
Thanks to their combination of security and convenience, acceptance of biometrics is growing steadily, the financial services company shared in its strategic insights on the future of payment technology earlier this week.
“The ubiquity of biometrics in our phones — opening your phone with your face – has created consumer acceptance,” says Teresa Walker, managing director and head of Merchant Services Sales at J.P. Morgan Commercial Banking. “Younger generations who grew up with facial recognition will likely drive even faster adoption.”
Reliance on facial and voice recognition, fingerprint and iris scans is allowing businesses to deliver a seamless customer experience. The challenge is balancing this experience with privacy and regulatory compliance, adds Walker.
In the future, advances in AI and machine learning will likely further boost payment security, enabling real-time fraud detection and adaptive authentication, the U.S.-based banking giant concludes.
JP Morgan’s strategic insights also covered other technologies that will affect payments in the future, including digital wallets, which are becoming “essential” for B2B and B2C payments. Other important innovations changing the industry are real-time payments (RTP) and blockchain.
“As customers demand faster, more flexible payment options, businesses must integrate digital wallets into their ecosystems,” the document notes.
JP Morgan has also been investing in companies providing biometric authentication. In 2022, for instance, it invested in Indian payments fintech In-Solutions Global (ISG), which recently introduced a new passkey-based biometric verification product aimed at securing ecommerce transactions.
The product, named ISG Authify, was launched in December with the help of German tech firm Giesecke+Devrient (G+D), which is providing technical support for integration.
Mumbai-headquartered ISG is making the move to biometric authentication as India prepares to introduce stricter controls for authentication. As of April 2026, the Reserve Bank of India (RBI) will require two-factor authentication (2FA) for digital payments, moving beyond just SMS OTPs.
ISG was founded in 2004 as a reconciliation service for card payments and ATM networks in India, gradually expanding into other areas such as processing payments in e-commerce.
JP Morgan has a long-standing presence in India’s payment market, including real-time payment services. Customers in the country are known for relying on digital services and non-traditional payment systems, such as mobile wallets and infrastructure based on India’s Unified Payments Interface.
The company employs 63,000 technologists in the country, with one-third working on products related to digital banking, cloud computing and integrating AI, chief data and analytics officer Teresa Heitsenrether told the Economic Times during her visit to the country in July 2025.
JP Morgan has also been working on developing around 400 AI use cases, including in marketing, fraud and risk management. The bank has pledged to spend US$17 billion annually on technology and currently has a team of more than 2,000 AI and machine learning experts and data scientists, according to Heitsenrether.
