Biometrics over passwords? Survey says more Indian consumers opting for fingerprints, face recognition for financial transaction

Biometrics over passwords? Survey says more Indian consumers opting for fingerprints, face recognition for financial transaction

While biometrics created privacy and cybersecurity concerns in Aadhaar's context, it is found that Indian consumers are more comfortable with using fingerprint, facial and voice recognition over passwords or PINs, a survey by VISA showed.

By: FE Online | Updated: January 16, 2018 7:58 PM

Survey shows Indian consumers favour biometrics over passwords, PINs

Top News

  • Aliens visited earth? You may not believe what you will see in this shocking video - Watch

    Aliens visited earth? You may not believe what you will see in this shocking video – Watch

  • Haj Subsidy India: Narendra Modi government ends Haj subsidy for Muslims

    Haj Subsidy India: Narendra Modi government ends Haj subsidy for Muslims

  • Meeting of the heavyweights: CJI Dipak Misra holds talks with four dissenting judges - Here's all that has happened

    Meeting of the heavyweights: CJI Dipak Misra holds talks with four dissenting judges – Here's all that has happened

While biometrics created privacy and cybersecurity concerns in Aadhaar’s context, it is found that Indian consumers are more comfortable with using fingerprint, facial and voice recognition over passwords or PINs for financial transactions. According to a report by financial services VISA, more and more consumers are accepting biometric technologies like fingerprints for authentications and are ready to drop passwords for operating accounts or make payments.

A survey conducted on 500 respondents by Visa says that as much as 99% consumers of a survey are personally interested in using at least one biometric method to verify their identity, and an equal percentage of the respondents are interested in using at least one biometric method to make payments, PTI reported.

“New forms of authentication, such as fingerprints, facial or voice recognition, can make unlocking accounts and
payments much easier and more convenient than traditional passwords or PINs, which are difficult to type onto tiny
keyboards, easy to forget, and can be stolen,” the survey said.

It also showed that 51% consumers are concerned both about the risks of a security breach of sensitive biometric
information. Biometrics data recently became the eye of the storm when a newspaper report said that Aadhaar — a 12-digit identity — details were put on sale for just Rs 500. UIDAI, however, rejected the claim and said that no biometric data was breached.

Since then, the UIDAI introduced ‘Virtual ID’ (VID) to safeguard Aadhaar cardholders’ data. VID will be a 16-digit, randomly-generated number which can be used for authentication instead of the original Aadhaar number, according to UIDAI. VID, by design being temporary, cannot be used by agencies for de-duplication.

UIDAI also introduced a new feature of Aadhaar authentication for those facing issues in authenticating their biometrics through the existent process of fingerprint and iris scans. UIDAI introduced face authentication mechanism, which will be rolled out starting July.

Get latest news and updates on Auto Expo 2018, check breaking news on Budget 2018, like us on Facebook and follow us on Twitter.

More Top News

  • Pravin Togadia Press Conference LIVE Updates: VHP leader makes shocking claims, Hardik Patel meets him
  • Your SBI account may be suspended if not linked to Aadhaar; here's how to do it

    Your SBI account may be suspended if not linked to Aadhaar; here's how to do it

  1. No Comments.

No Comments Yet

Leave a Reply