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Chana Schoenberger (00:11):
Hi, I'm Chana Schoenberger. I'm the editor-in-chief of American Banker and I'm here at Payments Forum 2026 in San Francisco, where all week we've been talking to payments leaders about what's going on in the payment space. And I have with me here Umar Farooq, who is the global co-head of JP Morgan Payments. Welcome.
Umar Farooq (00:27):
Thank you very much for having me.
Chana Schoenberger (00:29):
Turning to the retail experience, how is that going to change for your clients with biometric and other verification tools?
Umar Farooq (00:36):
So first of all, I think it has been on the come and we already are pretty used to it with our phones, but increasingly I do think we will get into less and less friction as time goes by. So at the Chase Center in San Francisco, if you have a chance. I mean, we have sort of enabled biometrics there. We are seeing quite a bit of take up on biometrics pay with face because we believe over time people are going to pay more and more with zero friction methods. So you buy something, you go, you kind of look into something and you're done. We are also doing that at airports. I mean, it's increasingly becoming quite standard for people. So from our point of view, it's that we are seeing a lot of demand from live sports and live event venues because you go to a concert or you go to a sports game, you really don't want the extra X seconds to swipe a card or even take out a phone.
(01:30):
So we are seeing a lot of take up there, but we are seeing increasing demand from those sorts of venues.
Chana Schoenberger (01:36):
And of course as the economy moves towards more high end experiences, you get more situations where people are in a venue and they need their Coke before Taylor Swift gets back on stage.
Umar Farooq (01:47):
Exactly. And I think that's where we see the most demand and obviously some of the quick service restaurants as well, but the live venues have been the primary.
Chana Schoenberger (01:55):
Chicken wings right now.
Umar Farooq (01:56):
The chicken wings right now.
Chana Schoenberger (01:58):
Well, thank you so much. This has been really interesting. No,
Umar Farooq (02:00):
Thank you for having me. I really appreciate it.
Chana Schoenberger (02:01):
And thanks for coming to Payments Forum.
Umar Farooq (02:03):
Thanks.