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Microchips in Hands Could be used for Payments by 2037

Biometric authentication could become the norm as soon as 2037.

In fact, according to research from Nationwide Payments, nearly a quarter (23%) of respondents believed that microchips embedded in their hand would become the main method of biometic payment. 58% think that it will be thumbprints instead.

In the survey of 2000 people. more than half of the respondents still thought that cards will continue to be used, with some thinking that cash will still be relevant by 2037. 55% said that phones and watches will also still be used to pay for things with.

The Director of Payments at Nationwide, Paul Horlock, said that the building society was already developing biometric payment systems, "New innovations, such as biometric identification, are also in the pipeline as we look to the future."

Eventually, the advancement of biometric authentication could remove the need to have a physical chip at all.

Biometric authentication is already being used in some sectors where high levels of security are paramount. In Dubai, the government is currently working with a startup company to introduce biometric border checks. These could put an end to physical passports.

A full security and identity check could be made as passengers disembarked the plane, with the use of Lidar Technology, and they will be instantly checked into the country.

Looking even further ahead into the future, futurologist Ian Pearson said that contactless technology is a compromise, and it won't be long till people will be able to pay for things with a simple gesture and a few words.

"Gesturing towards someone saying 'Here is £13.46' is quite enough to combine the voice and gesture recognition with the presence of your smartphone as electronic identification."



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