Around 86% of American consumers prefer biometrics to authenticate identity or make payments, according to a new survey by Visa.
The study, conducted by AYTM Market Research, revealed consumers to be the most familiar with fingerprint biometric authentication method. Thirty percent of consumers said they used fingerprint biometrics once or twice, while 35% said that they use the authentication method regularly.
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Around 32% were found to have used voice biometric authentication in the past, while 9% were found using it regularly.
Also, 70% of consumers said biometrics was easier than passwords, and 46% said they were more secure than passwords.
Phasing out the requirement to remember multiple passwords was cited as the key advantage of biometrics by 50% of consumers. On the other hand, security was one of the main concerns regarding biometrics for 49% of consumers.
Visa senior vice president of risk and authentication products Mark Nelsen said: “Advances in mobile device features are increasing the accuracy and speed of biometrics, such that they can be used for financial transactions. At the same time, consumers are widely familiar and comfortable with using biometrics for more than just unlocking their phones.”
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By GlobalData
