Don't forget the vax card… In some bars and concert venues, it's becoming as common as a 21+ ID check. Many locations, and all of NYC, are requiring proof of vax status for indoor activities like working out or dining. That’s good news for Clear Secure, TSA PreCheck's techier cousin. Clear shares have soared 74% since it IPO'd in June.
Where there’s a wait… there's a way. Last year’s pandemic shutdowns were hard on Clear. As flights and Ariana Grande concerts were canceled, Clear's revenue plunged 50% from March to April 2020. Then, Clear saw a light at the end of the terminal: Covid tests and vaccines presented a key opportunity to expand beyond IDs for flying. So it got to work:
IDs could be next in the contactless revolution… Clear isn't stopping at airport lines — it wants your eyeballs to be your ID at work, at happy hour, and at the doc's office. Just like contactless payments are making wallets and cash obsolete, biometric IDs could make your driver's license obsolete. Companies like IBM and Mastercard are working on their own digital health IDs. The biometric ID market is growing — it's expected to more than double from $20B last year to $44B by 2026.