Research group Acuity Market Intelligence has predicted that mobile biometrics will significantly disrupt the global payment market by providing alternative means of securing and processing mobile transactions.Mobile biometrics will generate some $34.6 billion in annual revenue in 2020, according to Acuity, which also predicts that the tech will authenticate nearly 65% of all mCommerce transactions in that year.According to Maxine Most, Acuity Market Intelligence Principal and lead analyst, “As mobile transaction volume increases, so too will the number of transactions that require biometric authentication. This increased level of security will be driven by the rise of identity theft and fraud, new payment, service, and information ecosystems that offer greater anonymity to consumers, and by consumer desire to maintain greater control over personal data and enhance their privacy.””Billions of payments will be secured by a new class of payment processors that manage risk through biometric identity services as consumers are authenticated and transactions authorized with much lower risk than traditional payments,” says Most, a biometric identity expert with fifteen years of intensive focus on this now burgeoning marketplace.”Biometric-based real-time risk assessment will also transform payment processing allowing consumers to withdraw funds directly from consumer bank and mobile money accounts via their mobile devices while enabling merchants to issue direct consumer credit on demand,” Most says.”This has the potential to totally disintermediate traditional payment methods, such as credit and debit cards, out of the payment marketplace.”Acuity forecasts that the total biometric transaction volume, including both payment and non-payment transactions, will exceed 800 million annually by 2020 with 35% of these transactions authenticated via biometrics embedded in mobile devices and 65% via biometric apps downloaded by consumers.