10.30.18
More than half of UK consumers (54%) would be ready to use biometric payment cards if they were available at their bank today, according to new research revealed by digital security leader Gemalto and conducted by GfK. For 82% of them, it would even become their preferred payment card. These innovative cards with integrated fingerprint readers let users authorize payments with a simple touch of their finger on the sensor, as an alternative to the PIN code.
If British consumers are to replace their current payment cards, they need them to be more secure than what they currently have (88%), to be offered by a trusted bank (79%), to be easy to use (69%) and to be one that simplifies their life (60%).
Eight out of 10 consumers believe that this new card will be better in terms of convenience and security. Key advantages include no need to remember different PIN codes, a more secure experience (“no more risk of someone stealing my PIN code when I pay”) and more opportunities to pay contactless due to higher spending limits. Additionally, the card doesn’t rely on a battery and only uses power from the payment terminal to work.
Some consumers also expressed concerns about using biometric technology, as 41% feel afraid that their fingerprint won’t work all the time and more than a third (37%) about it being compromised. However, these concerns should be alleviated as consumers learn more about the technology. For example, biometric cards will be able to fall back to a PIN code authorization if for any reason the fingerprint reader malfunctions.
“We are delighted to see that the British public is ready to embrace this new generation of biometric payment cards,” Howard Berg, SVP Banking and Payment at Gemalto, said. “Our payment experts have worked hard to design a card that’s not only safe and secure but also easy to use and which provides a more convenient payment experience than ever before.”
If British consumers are to replace their current payment cards, they need them to be more secure than what they currently have (88%), to be offered by a trusted bank (79%), to be easy to use (69%) and to be one that simplifies their life (60%).
Eight out of 10 consumers believe that this new card will be better in terms of convenience and security. Key advantages include no need to remember different PIN codes, a more secure experience (“no more risk of someone stealing my PIN code when I pay”) and more opportunities to pay contactless due to higher spending limits. Additionally, the card doesn’t rely on a battery and only uses power from the payment terminal to work.
Some consumers also expressed concerns about using biometric technology, as 41% feel afraid that their fingerprint won’t work all the time and more than a third (37%) about it being compromised. However, these concerns should be alleviated as consumers learn more about the technology. For example, biometric cards will be able to fall back to a PIN code authorization if for any reason the fingerprint reader malfunctions.
“We are delighted to see that the British public is ready to embrace this new generation of biometric payment cards,” Howard Berg, SVP Banking and Payment at Gemalto, said. “Our payment experts have worked hard to design a card that’s not only safe and secure but also easy to use and which provides a more convenient payment experience than ever before.”