Hoyos Labs finds consumers would use biometrics if offered by merchants
Biometric authentication infrastructure firm Hoyos Labs commissioned an independent survey and found that consumers are concerned about the safety of their personal information online while shopping during the holiday season.
The findings were revealed in the form of an infographic:
Although the survey indicates that more than 50 percent of consumers are worried, many are not taking precautions to protect their information.
90 percent of participants think that passwords provide little to no security, yet passwords are still the most popular form of account access.
More than a third believe that using biometrics, such as facial recognition or Touch ID, provides more security.
“Passwords end up being the biggest liability when it comes to security,” said Hoyos Labs CEO Hector Hoyos. “People forget them, use easily identifiable information, and rarely change their passwords.
He continues, “We’ve been working feverishly with financial institutions to deploy the use of biometric authentication, where a consumer’s own biometric profile replaces usernames and passwords. As a result purchases are more secure and convenient.”
Research was conducted by Research Now, which, between Nov 16-20, 2015, surveyed 1,000 consumers who plan to shop online during the holidays and own smartphones.