New forms of authentication, such as fingerprint, facial, and voice recognition, are easier and more convenient than traditional passwords. Mark Nelson, Visa senior vice president said recently that “For financial institutions, the time has never been better to integrate biometric technology into banking apps and payments experiences for customers,” “the same time, consumers are widely familiar and comfortable with using biometrics for more than just unlocking their phones.”
The study which was sponsored by Visa and conducted by AYTM Market Research, on 1,000 U.S. found out that “consumers revealed that biometric authentication methods top the list of preferred password alternatives. The Visa study found that 86 percent of consumers are interested in using biometrics to verify their identity or to make payments. More than 65 percent reported that they are already familiar biometrics.”According to the study, 30% already used it once at least, 35% using it regularly. 46 % think biometrics is more secure than passwords and 49% concerned about security.
Consumers are ready to say goodbye to passwords, Will you ?