Consumers ready to switch from Passwords to Biometrics

The all-too-common frustration of forgetting a password may soon become a thing of the past, as people become more comfortable with new forms of biometric authentication. Fingerprint, facial and voice recognition are increasingly becoming ways to authenticate a person for access and payments. They are faster, easier and more secure compared to the traditional use of passwords or PINs, which are difficult to remember and easy to steal. Does this mean the password could soon go away? According to the results from a recent survey commissioned by Visa, consumers are ready to leave the password behind.
Among 1,000 Americans surveyed, the findings revealed:
  • More than the 65 percent of consumers are already familiar with biometrics1
  • 86 percent of consumers are interested in using biometrics to verify identity or to make payments
  • 70 percent of consumers believe that biometrics are easier and 46 percent think they are more secure than using passwords or PINs
1 Research conducted by AYTM Market Research, September 12-19, 2017, among 1,000 U.S. adult consumers who use at least one credit card, debit card, and/or mobile pay.