A comprehensive view of biometric payment in retailing: A complete study from user to expert

• Published in: Journal of retailing and consumer services 2024-07, Vol.79, p.103789, Article 103789
• Main Authors: Zarco, Carmen, Giráldez-Cru, Jesús, Cordón, Oscar, Liébana-Cabanillas, Francisco
• Format: Article
• Language: English
• Subjects: Artificial intelligence; Biometric payment; Consumer behavior; Expert interviews; Feature selection
• ISSN: 0969-6989; 1873-1384
• DOI: 10.1016/j.jretconser.2024.103789

The new financial and commercial scenario driven by technological advances has undergone a rapid reconfiguration in the recent years. Innovation has generated new payment alternatives that are transforming the concept of money and payment habits among consumers. One of the most novel payment systems nowadays is known as biometric payment. Improved payment systems will improve retailing and consumer services. The aim of this study is to develop an analysis of biometric payment based on two complementary studies. In the first one, the variables predicting the intention to use this technology are determined on a sample of 1905 potential users by means of different feature selection methodologies from artificial intelligence in a holistic model that integrates the principles of the UTAUT2 model, the General Risk Theory, and the Trust Theory. In the second study, two panels of Fintech industry experts compare these results. The overall insights obtained show that perceived risk, trust, and social influence are the variables that, from the experts’ experience, users consider most important when employing this technology. This research provides useful information for financial and business decision-makers in companies interested in commercializing this type of technology.