Palm Payment Technology Market Size - By Solution, By Authentication Method, By Security Level, By End use, Forecast, 2025 – 2034

Palm Payment Technology Market Size

The global palm payment technology market size was valued at USD 68.4 million in 2024 and is estimated to grow at CAGR of 26.1% from 2025 to 2034. The growth of palm payment technology industry is attributed to the rising demand of digital payments solutions. With increasing global digital payment solutions, palm payment technology will play a crucial role in encouraging financial inclusion.
 

According to Statista, there were 3 billion users of digital commerce payments in 2024. These users are expected to rise to 4.4 billion by 2029. Governments and fintech businesses are investing in newer payment solutions to help digital economies grow and reduce their reliance on cash transactions. Digital payment simplicity, along with accessibility and ease of use, makes it attractive for emerging markets, contributing to its widespread adoption.
 

Companies operating in the market can leverage emerging trends through innovative solutions. Integration of Generative AI and live e-commerce are a few examples that companies should focus on. Security and fraud prevention is another area that can help companies to gain customer’s confidence. Amazon One, a palm recognition service platform by Amazon, has acquired more than 3 million users from U.S. itself, highlighting consumer acceptance of biometric payments.
 

The advancements in biometric recognition technology and AI are another key factor driving the palm payments technology market. Technological advancements in AI have improved the accuracy and reliability of palm payment technology. AI-driven algorithms enhance real-time authentication along with instant transaction processing with the least errors. According to the biometric institute’s industry survey 2023, contactless vein/finger was highly guessed by respondents when asked about the alternative biometric technologies.
 

The market for palm payment technology is fueled by consumers' growing desires for safe, easy, and hygienic payment options. Biometric identification offers protection by using distinct palm vein patterns that are hard to hack, which mitigates growing concerns about fraud and identity theft. Additionally, touchless transactions have become more popular since the pandemic, which reduces the need for actual cash or credit cards.
 

Growing retail and hospitality sectors also fuel the palm payments technology market due to high digital transactions requirement in the sector. Retailers and hospitality industries are increasingly using palm payment technologies to improve customer satisfaction and pace transactions. Palm authentication lowers checkout times and avoids the need for physical cards or mobile wallets, increasing operational efficiency.
 

Companies benefit from data insights from consumer biometrics, which allows for customized marketing initiatives. Big companies are promoting adoption and demonstrating the usefulness of biometric payment methods, such as the Amazon One Palm Payment System. The market for palm payments in dining establishments, lodging facilities, and entertainment venues will expand as more companies become aware of its advantages.
 

Global Payments Inc. (American multinational financial technology company) highlights that, sixty-one percent of businesses are optimistic about the influence of AI on their operations. AI-powered technology is confirming the customers’ identity and executing their payment, making another step towards making the payment experience "invisible" to customers. "The authentication space is ripe for further innovation," claims a top official, including "People want maximum security with minimum friction".
 

The palm payment technology market is an industry that focusses on biometric identification systems that use palm vein or palm print recognition to provide secure contactless transactions. This technology improves payment security, lowers fraud, and provides smooth user experience. The market is expanding globally across retail, banking, healthcare, and hospitality sectors, driven by advances in AI, rising demand for touchless payments, and financial inclusion initiatives.
 

Palm Payment Technology Market Trends

• The proliferation of palm payment technology is closely linked to the growing popularity of contactless and digital wallet transactions. By 2025, global contactless payment transactions are expected to exceed USD 17 trillion, driven by demand for quick transactions. Major merchants such as Amazon are leveraging palm payments, which are incorporated into digital wallets, by introducing palm-based payment systems such as Amazon One. The above trend shows consumers' desire for a touchless payment experience across a wide range of industries, including retail, healthcare, and transportation.
   
• A joint study by PYMNTS Intelligence and AWS in 2023 investigated 51% of consumers used biometric authentication for online buying in the survey period. From July 20 to July 25, the study polled a representative sample of 3,278 U.S. customers to learn about their biometric authentication expectations and the factors that drive them to prefer biometrics over other identification methods for online purchases.
   
• Palm vein recognition enables healthcare professionals to protect sensitive information, maintain correct patient data, and improve overall patient experiences. HID Global (leading provider of identity and access management solutions) provides biometric solutions to the healthcare business, assisting organizations in increasing security, streamlining patient identification, and improving workflow efficiency. Their systems provide secure access to facilities and patient records along with reducing fraud and mistakes.
   
• A study by wall street journal raises questions about privacy, surveillance, and data security for those who choose to use biometric identification. According to the wall street journal, the expanding trend of biometric authentication, with a focus on Amazon's palm payment technology and the TSA's facial recognition systems. Both are increasing their usage of biometric data for secure, contactless entry and payments.

Palm Payment Technology Market Analysis

Based on solution, the palm payment technology market is divided into hardware, software and services. These solutions are building the basis of growth for the palm payment technology as there is shift in adoption of secure palm payment technology in various sectors. With the rise in preferences for ease in payment with enhanced security is also creating a path for the development in the palm payment.
 

• The hardware market was valued at USD 42.9 million in 2024. The hardware used in palm payment is rising owing to the requirement of smooth and quick payment options for users. This fast process reduces the transaction times leading to quicker checkout process in any payment related zones.
   
• To bring such technology for payments companies are making strategic collaboration and launching terminals. For instance, in March 2024, Telpo joined hands with Qualcomm to launch palm payment terminals, Telpo P105. The terminal is powered through Qualcomm QCM6125. The 5.5-inch multi touch display, rich interface with liveness detection is used for enhancing the payment methods.
   
• The software market is predicted to grow at a CAGR of 28.1% during the forecast period. The growing demand for secure and seamless payment is leading to the adoption of a software platform in the market. The security offered by platform builds trust among the users and thus the software platform is finding potential to penetrate the market easily.
   
• The service market is expected to grow and reach a value of USD 39.1 million by 2034. The market is witnessing a growth in service with the rising shift of business towards a secure, scalable palm payment solution. Fintech, retail sector are adopting payment by pam technology which is leading to the growth of service providing companies in the market.
   
• Organizations are leveraging technology to provide palm payment services in the market. For instance, in March 2024, Amazon One launched app to smooth the process of sign up of its palm-recognition service. With this the users sign up easily through their phones. The Amazon Palm Payment service provides a high security payment method for the users. This reflects the growth of the services in palm payment.
   

Based on the authentication method, the palm payment technology market is classified into palm vein recognition, palm print recognition, and hybrid methods. The authentication method is used predominantly by different sectors such as retail and banks to provide a secure gateway of payment. This authentication methods captures the vein and palm to authenticate the payment process which provides high security and accuracy.
 

• The palm vein recognition market is projected to grow at a CAGR of 27.2% in the forecast period. The market is growing with the rise in spoofing activities. To tackle the challenges arising from fraud activities there are new technologies used for extracting vein patterns. Through technology the authentication process is becoming easy and providing a secure payment option by palms.
   
• The palm print recognition industry is expected to grow and reach a value of USD 81.5 million by the year 2034. The technique is used to capture the pattern on the palm. Since it offers a high level of precision it is becoming a better option for payment. Authentication through palm print is easily integrated in the smart phone and thus provides an opportunity for the players in the market to provide a safe authentication method for payment.
   
• Hybrid method market is predicted to grow at a CAGR of 25.3% in the forecast period. This authentication method which combines palm vein and palm print recognition is gaining momentum in the payment market where security is of utmost importance. The integration of AI is also leading to the adoption of hybrid methods which enable a smart and secure environment for payment.
   

Based on security level the palm payment technology market is bifurcated into Single-Factor Authentication (SFA) and Multi-Factor Authentication (MFA). These two factors are growing in the current market due to the rising demand for secure, frictionless and convenient option of payments. As the threat of fraud in payment is rising these factors ensures a high security gateway for the palm payment.
 

• The Single-Factor Authentication (SFA) market is valued at USD 46.6 million in 2024. The market for single factor authentication is growing as businesses are seeking ways to streamline the payment process and improve customer experience.
   
• SFA provides business to easily integrate the authentication into the point-of-sale (POS) systems. The market is progressing with such a factor of authentication which makes the process of payment verification fast.
   
• Multi-Factor Authentication (MFA) market is predicted to grow at a CAGR of 29.6% in the forecast period. With the rise in cybercrime and fraud payment the authentication levels are increased which act as barriers to theft and fraud activities. As the market is evolving for more secure payments these authentication types are becoming essential in the market.
   
• These authentications are gaining traction owing to the increase in payment through palm as the users are seeking a fast and reliable payment option at the retail stores or other related areas.
   

Based on end use, the palm payment technology market is segmented into Retail & E-commerce, Banking and Finance, Healthcare, Hospitality & Entertainment, Education, Transportation and Others. The different sectors are seeking the fast payment solutions with the rising of digitalization.
 

• The retail & e-commerce market held a market share of 49% in 2024. There is a rise in utilizing palm payment technology at stores and online shops. This is due to the user preferences for quicker payments to avoid the long transaction time. Retail businesses are taking the initiative and adopting biometric payments through palm. This reflects that the businesses are making changes into the existing payment system to provide users with a secure and easy way of payment.
   
• In March 2023, Panera Bread announced the adoption of Amazon One at the bakery cafes for the contactless payment method. This shows the shops are making significant attempts to switch to fast and secure payment methods.
   
• The banking and finance market is expected to grow at a CAGR of 27.1% in the forecast period. The growing banking and finance sectors are embracing the shift to digital and high-tech methods of payments. Palm payment technology is rising with the need for contactless transactions in these sectors. Companies are integrating the technology to provide more secure and safe payment options. For instance, in July 2024, Mastercard announced the adoption of palm payment and the utilization of biometric authentications. This reflects the rise in the use of palm payment technology in banks and other finance-related areas.
   
• The healthcare market is predicted to grow and reach the value of USD 21.2 million by the year 2034. The healthcare sector is increasingly adopting the palm payment methods. The adoption of such technology is to reduce the long waiting time for clearing bills at the hospitals. The hospitals are integrating the adoption of payment methods through digital technology which involves contactless scanning of the palms.
   
• By 2034, Hospitality and entertainment market is anticipated to grow and reach a value of USD 61.6 million. With the growing hospital and entertainment sector the palm payment adoption is also increasing. The rise of smart hotels and increasing the digital payment solution is acting as a catalyst for its growth in the market. Kiosk and other point of sale areas finds the rising need of such quicker payment modes.
   
• The education market is anticipated to grow at a CAR of 24.8% in the forecast period. The educational institutes are implementing contactless palm payment technology. This is because the growth in the education sectors such as online courses present the increasing need for such cashless payment option. It also provides the user with a benefit to reduce the stress of carrying cards or cash.
   
• The transportation market is expected to grow at a CAGR of 25.6% in the forecast period. The transportation sector is experiencing rapid shifts with technological developments in the payments options. For instance, Dubai Transport system is upgrading its transportation system through pay-by-palm at metro stations. The Road and Transport Authority (RTA) aims to upgrade the systems for commuters at Dubai Metro. This shows that the progressive nature of the transport sectors in aligning with the rapid technology development.
   

The North America palm payment technology market was valued at USD 24.4 million in 2024. The region embraces innovation and is quick in adopting technology. The region’s tech-savvy consumers and businesses adopt new methods of payment. As the region has established infrastructure it paves the way for quick and widespread deployment of new payment solution such as palm payment within the region.
 

• U.S. palm payment technology industry is expected to grow and reach a value of USD 190.5 million by the year 2024. The U.S. market is adopting the palm payment in retail sectors to ease the payment methods in the country. Companies such as Amazon Web Services are expanding their services in the market. For instance, in July 2023 the company announced that the Amazon One payment solution would be available at the 500+whole foods market location in the U.S. This depicts the rise in adoption of digital payment.
   
• Canada palm payment technology market is anticipated to grow at a CAGR of 27.9% in the forecast period. The country is shifting to digital payments and businesses are making attempts to innovate new payment methods which are convenient and fast. According to data from Payments Canada’s annual Canadian Payment Methods and Trends Report, stated that in 2021 there were 546 million fewer cheques and paper items exchanged with respect to 2014. This shows that the country is adopting digital payment solutions.
   

The Europe palm payment technology market is projected to grow and reach a value of USD 184.2 million by 2034. The businesses and consumers are seeking alternative payment option with respect to the traditional payment processes in Europe. This shift is attributed to the rising need of the businesses for faster and secure payment across the region.
 

• The UK palm payment technology industry is predicted to grow at a CAGR of 26.4% in the forecast period. The country is witnessing the rise in palm payment through the rise of consumer preferences for contactless payments. In the UK Finance 2023 report it was stated that 38% of the payments made in the UK were contactless. This reflects the rising opportunities for palm payment technology in the country.
   
• Germany palm payment technology industry was valued at USD at 2.9 million in 2024. With the rising growth of online shopping in Germany, the adoption of palm payment technology is set to grow. Consumers in this country are quick in adopting new payment methods. The trend in Germany revolves around digital wallet or digital payment solutions.
   
• France palm payment technology market is anticipated to grow at a CAGR of 25.5% in the forecast period. The country is adopting the palm payment methods and providing ease of payment options to the users. The technology are getting implemented in the shopping market in the country. This shows the gain in popularity of fast and secure payment modes in France. For instance, in July 2024, French supermarket Carrefour brought in the trial version for payment by palm of the hand.
   
• The Netherland palm payment technology industry is expected to grow at a CAGR of 26.1% in the forecast period. The nation is moving towards digital and contactless payment options. This reveals the current dynamics in the country to adopt a secure and quick payment solution.
   
• Spain palm payment technology market is predicted to grow and reach a value of USD 13.8 million by 2034. The country’s inclination towards digitalization and growing shift to contactless payments is leading to the growth of palm payment technology in Spain.
   
• By 2034, Italy palm payment technology industry is projected to grow and reach a value of USD 15.7 million. Italian consumers are seeking for quick and fast transaction modes and thus finds potential for the growth of palm payment in the country.
   

Asia Pacific palm payment technology market is expected to grow at a CAGR of 28.1% in the forecast period. The region is gaining traction for the palm payment driven by the advancement in biometrics authentication and consumer shift to advance and secure payment solutions.
 

• China palm payment technology industry held a market share of 37.7% in 2024. The country has been launching payment solutions through palm and hands which reflects the potential of the country to embrace the digital payment options. The country witnesses rise in palm payment services at the convenience stores in China. For instance, in September 2023, palm payment service was launched at over 1,500 7- Eleven convenience stores in Gaungdong province.
   
• India palm payment technology market is expected to grow at a CAGR of 28.6% in the forecast period. The country has made progress in recent years in the space of digital payments. This provides opportunities for palm payment technology and service provider to penetrate in India and help progress the palm payment solutions.
   
• Japan palm payment technology industry is predicted to grow and reach a value of 13.2 million by 2034. The consumers in the country are seeking payment options that are reliable and fast. The banks are providing its users the palm vein biometrics instead of cards. This dynamic shift of going cardless is leading to the growth of the palm payment technology market with Japan.
   
• South Korea palm payment technology industry is projected to grow at a CAGR of 26.9% in the forecast period. South Korea commitment towards innovation and evolving with the change in technology is a key factor for the palm payment technology to propel in the country.
   

The Latin America palm payment technology market is anticipated to grow at a CAGR of 23.1% in the forecast period. The region is progressing with the rapid adoption of biometric authentication payments. The technology is laying the path to secure the payment in Latin America. For instance, in June 2024, Mastercard announced its biometric checkout program through a strategic partnership with Ingenico, Fujitsu Frontech, Scanntec and Fulcrum Biometrics.
 

• Brazil palm payment technology industry is expected to grow and reach a value of USD 14.4 million by 2034. The growth in palm payment in the country is attributed to the fintech companies in Brazil strongly investing in to bring palm payment services. For instance, in June 2024, Tencent and Brazilian fintech based in Campinas announced through agreement that the palm scanning service would be launched to provide the fast payment operations.
   
• By 2034, Mexico palm payment technology market is anticipated to grow and reach a value of 11.4 million. As the fintech companies in the country are growing, it is bringing a wider opportunity for the market of palm payment to grow. The rapid advancement in digital payments is creating a path for the palm payment service provider to penetrate in the market of Mexico.
   
• Argentina palm payment technology industry is projected to grow at a CAGR of 24.3% in the forecast period. Argentina is witnessing growth in digital payment which in turn creates a path for the palm payment technology to grow in the market.
   

The MEA region of palm payment technology market is expected to grow and reach a value of USD 17.9 million by 2034. MEA is seeing rapid shift in the cashless payment as the businesses are seeking more secure and faster way for payments. Government in the region is investing in building infrastructure for finance which is acting as a catalyst for the growth of palm payment within the region.
 

• South Africa palm payment technology industry is predicted to grow at a CAGR of 20.4% in the forecast period. The country is embracing the rising digitalization and thus developing its systems for palm payment. The integration of cloud infrastructure is acting as a catalyst in the market for the development of palm payment.
   
• Saudi Arabia palm payment technology market is anticipated to grow and reach a value of USD 1.8 million by the year 2034. The country’s vision of 2030 to move towards digitalization provides the palm payment technology industry to grow. There is growth in the retail and hospitality sector for biometric payment systems in the country. This reflects the opportunity for the palm payment service provider to propel their service for payment options.
   
• UAE palm payment technology industry is projected to grow at a CAGR of 19.9% in the forecast period. In May 2024, Astra Tech launched biometric payment with Palm Pay. The launch enabled the shoppers to pay easily with their hands and all transactions are made contactless. This reflects that the country is striving to develop palm payment technology in the market.
   

Palm Payment Technology Market Share

The palm payment technology industry is gaining popularity across regions and becoming highly competitive as the players in the market are progressing with the introduction of new payment methods. The top 5 players in the market are Amazon.com, Inc., Fujitsu, NEC Corporation, ZKTECO CO., LTD., and Hangzhou Hikvision Digital Technology Co., Ltd. and they together held ~58% market share in 2024. The companies are leveraging the technology to provide a seamless and secure payment solution.
 

The market dynamics of palm payment technology are characterized by the innovation in the payment where players are making strategic investment to reduce the transaction time. Companies are ambitious and players are showing interest in the biometric and palm vein recognition process to gain the trust of the users paying through palm.
 

The companies in the palm payment technology market are witnessing the users’ preferences for fast payment processes. This provides the players in the market an opportunity to captivate and grow in the existing market. Through strategic collaboration companies involved in palm payment are changing the landscape of payment in sectors such as retail, banks, etc. Efforts are made to integrate the palm payment technology method into the existing system and strengthening the authentication process.
 

Companies operating in this market should capitalize on opportunities and address emerging challenges such as enhancing security and user experience, integrating with emerging technologies, and focusing on collaborative business model such as partnering with merchants, payment processors, financial institutions etc. to create a wide acceptance network.
 

Palm Payment Technology Market Companies

Top players operating in the palm payment technology industry include:

• Amazon.com, Inc.
• Fujitsu
• NEC Corporation
• ZKTECO CO., LTD.
• Hangzhou Hikvision Digital Technology Co., Ltd.
   

The companies competing in the palm payment technology market are developing fast and secure payment which are contactless modes of payment through palm. Players such as Amazon has launched Amazon One which enables the user to hover over the scanner and pay through palm. The service provided by Amazon is helping the users to have secure payment and reduces the need to carry cards.
 

Fujitsu utilizes its PalmSecure systems to recognize the vein patterns and provide supreme security and accuracy for the payment. This company focuses on newer technologies and equipments such sensors to make the payment fast and convenient for the users.
 

Palm Payment Technology Industry News:

• In January 2024, Mashgin formed a strategic partnership with Keyo to create self-check-out system for the users. The system has integration of AI technology which saves 15 – 30% of the total time of transaction as compared to traditional payment method.
   
• In April 2023, Pop ID came into partnership with Redrock Biometrics and introduced a new model for retail payment systems. It provides the customers with options to pay through palm recognition or facial.
   
• In November 2023, the European basketball club Stella Artois Leuven Bears and Perfect-ID launched PALMKI payment solution which allows fans to purchase drinks and snacks using palm.
   
• In November 2024, Tencent announced partnership with Visa to introduce palm recognition technology digital payments in Singapore.
   

The palm payment technology market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2034 for the following segments:

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Market, By Solution

• Hardware
  • On-premises
  • On Cloud
• Software

Market, By Authentication Method

• Palm Vein Recognition
• Palm Print Recognition
• Hybrid methods

Market, By Security Level

• Single-Factor Authentication (SFA)
• Multi-Factor Authentication (MFA)

Market, By End Use

• Retail & e-commerce
• Banking and finance 
• Healthcare
• Hospitality & entertainment
• Education
• Transportation
• Others

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific 
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America 
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa 
  • Saudi Arabia
  • South Africa
  • UAE