Credit cards vs cryptocurrency—this is the new battle redefining digital payments. Compare how each is adapting to biometric authentication, offering security, speed, and innovation in the evolving financial landscape.
By 2030, industry experts predict that approximately 80% of all credit card transactions globally will involve some form of biometric verification. This trend will significantly impact the credit cards vs cryptocurrency comparison, as both payment systems increasingly adopt similar security approaches.The humble PIN has secured our credit card transactions for decades. Today, however, the landscape is changing dramatically. According to the Reserve Bank of India (RBI), digital payment fraud cases increased by nearly 300% in 2023-24, highlighting the urgent need for more robust security measures.Major Indian banks, including Axis Bank, have partnered with Mastercard in this initiative, with payment aggregators like RazorPay and PayU also participating. This move aligns with India’s digital transformation goals toward Viksit Bharat 2047, creating a more secure digital payment ecosystem that benefits both credit cards and potentially cryptocurrency systems in the future.Credit cards are integrating fingerprint and facial recognition directly into cards and apps, while cryptocurrencies primarily use biometrics as secondary authentication for wallet access rather than transaction verification.