PYMNTS survey finds 52% of consumers prefer biometrics over passwords

June 29, 2016 - 

PYMNTS has released its latest Digital Identity Tracker study, which finds that customers prefer to use “modern authentication methods” instead of traditional username/password credentials when signing into their online accounts.

The study, which was done collaboratively with digital identity firm Socure, shows that 52% of customers would rather use biometrics as an alternative.

Each month, the Tracker Scorecard features and ranks companies that are evaluated based on where a company authenticates a consumer’s digital identity (channels), who is using the authentication digital identity (participating parties), identifies how the authentication technology will be used (authentication use case), and examines the underlying technology used to authenticate the consumer’s identity (authentication method).

This month’s scorecard featured 84 companies, with several new additions including Arcanum Technology, BehavioSec, Facebanx, Precise Biometrics, Ping Identity, Trustev and VoiceVault.

The top 10-ranked digital identity companies and their respective score are as follows: 1. Early Warning (94); 2. Trustev (93); 3. (tie) Oberthur Technologies, Authasas (88); 5. Socure (84); 6. (tie) Authentify, Cryptovision, NokNokLabs (83); 9. Sift Science (81); and 10. AU10TIX (79).

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.