Biometric to verify fin-transactions catching up

As much as 99 pc consumers of a survey are personally interested in using at least one biometric method to verify their identity, and an equal percentage of the respondents are interested in using at least one biometric method to make payments, says a survey conducted on 500 respondents by Visa. 

“New forms of authentication, such as fingerprints, facial or voice recognition, can make unlocking accounts and payments much easier and more convenient than traditional passwords or PINs, which are difficult to type onto tiny keyboards, easy to forget, and can be stolen,” the survey says. It shows that 51 per cent consumers are concerned both about the risks of a security breach of sensitive biometric information. 

The top benefits associated with using biometric authentication for payments are the perception that it is more secure than passwords/PINs and that it gives consumers peace of mind that their payment is protected. 

Nearly 81 per cent of consumers overwhelmingly perceive that biometrics are faster, while 84 per cent of them say it is easier than passwords. It says consumers are most familiar with fingerprint recognition, with 32 per cent having used it once or twice and another 63 pc using it regularly. 

About 48 pc have used voice recognition in the past and 26 pc use it regularly.