Indian users are eager to employ biometrics such as facial, fingerprint, and voice recognition for verification, over conventional PINs or passwords, a study by Visa, the digital payments behemoth, claimed to the media in an interview this week. “These techs are looked as more suitable alternatives in comparison to conventional means such as PINs or passwords, which are easy to forget, hard to type onto small keys, and can be stolen”, the report claimed further.
“The transactions bionetwork is seeing a rapid shift in acceptance of new type factors of modes of verification and payments,” TR Ramachandran, Group Country Manager for Visa India and South Asia, claimed to the media in an interview. For financial organizations, the time has never been improved to incorporate biometric tech into payments experiences and banking apps for users, he claimed.
He told that handsets these days have improved functions increasing the speed and accuracy of biometrics, such that they can be employed for fiscal payments. “Indian users too have found the easiness of biometric verification and are open to employing this tech for payments going forward, which promises well for the transaction sector of India,” he claimed. As per the study, 99% of the members claimed that they are individually interested in employing minimum one biometric mean to confirm their identity, and an equal amount of members claimed that they are eager in employing minimum one biometric mean to carry out transactions.
The top advantages related with employing biometric verification for transactions are the perception. This perception it is more safe than PINs or passwords (48%) and it offers users the peace of mind that their transaction is confined (46%). In addition to this, many thought that biometrics are simpler (84%) and quicker (81%) in comparison to passwords. Fascinatingly, 51% claimed that they are worried about the jeopardy of a safety breach.