Pass

As travel revs up, Clear Security is taking its digital ID beyond the airport security line

Snacks / Friday, August 06, 2021
_Should've checked in with your eyeballs [Don Mason/The Image Bank via GettyImages]_
_Should've checked in with your eyeballs [Don Mason/The Image Bank via GettyImages]_

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.

  • Clear makes biometric kiosks that scan you through exclusive security lines at 38 US airports and 26 sports and entertainment venues — for $179/year.

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:

  • Health Pass: In June last year, Clear launched a product that links Covid health info to biometric identifiers like faces, eyeballs, and fingerprints.
  • Now, Health Pass is also a digital vax card that can be used to enter a growing number of locations. Including: NBA arenas, theaters, offices, restaurants, and casinos.

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.

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