LONDON, U.K. – New research from global payments technology company Visa Inc. (NYSE:V) shows that consumers across Europe are interested in using biometrics when making a payment, especially when integrated with other security measures. In the study of 14,000 European consumers, fingerprint recognition was deemed the most favorable form of biometric payment for its ease of use and security.
According to the survey, when looking solely at the perceived security of biometric technologies, 81% of consumers see fingerprints as most secure, followed by iris scanning (76%).
Other positive results of the research include strong feelings that biometric authentication for payments could create a faster and easier payment experience than traditional methods; 73% of those surveyed are as comfortable with fingerprint authentication as they are with PINs; and consumers like the fact that biometric authentication means that their details would be safe even if their device was lost or stolen.
“Biometric identification and verification has created a great deal of excitement in the payments space because it offers an opportunity to streamline and improve the customer experience. Our research shows that biometrics is increasingly recognized as a trusted form of authentication as people become more familiar with using these capabilities on their devices,” said Executive Director of Innovation Partnerships at Visa Europe Jonathan Vaux.
The Integrated Biometrics Watson Mini FBI Appendix F certified multi-fingerprint scanner is being used in Mexico to mitigate fraud in electronic payments. To read more about the Watson Mini, click here.
The Visa research was conducted in April and May of this year in the United Kingdom, Sweden, Spain, France, Germany, Italy and Poland. The total sample size was 14,236 with around 2,000 respondents per country. For more information, visit www.visaeurope.com.