Online shopping has been a game changer for many of us, especially as we stand at the threshold of another holiday season. What used to be a time of battling traffic and the elements has no become an ordeal that may be managed from the comfort of one’s couch. But it is in no way any less treacherous. The mental energy that was previously expended on safely navigating the physical shopping world must now be redirected to ensuring our safety the cyber realm.
Consumers are continually seeking faster and better methods of securing their online and mobile payment transactions, and for some, biometric technologies offer the best solution to make secure online purchases.
When asked which security authentication features they would consider using for online purchases in the next 12 months, 35% of shoppers chose fingerprint IDs, 12% selected retina scans, 7% opted for voice recognition and 2% said they would use face recognition.
The process of verifying one’s identity and authenticating payment credentials has become part in parcel of the holiday rush. With EMV more fully implemented across the retail segment in U.S., the migration of poor actors to the “Card Not Present” space will be marked. While many of us do not care to view billing statements after the holidays to avoid confronting the full extent of our largesse, with increased biometric authentication we’ll be able rest assured that the expenditures were indeed all ours.
Overview by Joseph Walent, Associate Director, Customer Interaction Advisory Service at Mercator Advisory Group
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