Kiwis are Sick of Passwords and Want Biometric Payments: Visa

New Zealanders are really interested in biometric authentication for payments, suggests new research commissioned by Visa.Kiwis are Sick of Passwords and Want Biometric Payments: Visa

A survey of 500 Kiwi adults conducted by AYTM last October found 88 percent of respondents expressing interest in the technology, most often citing its convenience over password-based authentication as the key to its appeal. The survey also found that only 29 percent of respondents claimed to use a unique password for each of their accounts, pointing to a strong need for enhanced security mechanisms.

The survey results echo the findings found among Kiwis’ cousins in Australia last year, with 25 percent of Australian respondents reporting the use of unique passwords for online accounts, and 67 percent agreeing that biometrics are more convenient than passwords for authentication.

In a statement announcing the New Zealand research, Visa emphasized the findings’ support for its Visa Future of Security Roadmap, an innovation plan for Australia and New Zealand designed to accommodate the growth of digital commerce, and which places a strong emphasis on biometric security. The aim is to ultimately allow the use of biometrics for authentication at the point of sale, whether it’s online or at a merchant’s POS terminal. As Visa New Zealand and South Pacific Country Manager Marty Kerr explains, the standards “effectively substitute the need for a PIN on purchases over $80,” meaning that “if a device meets Visa’s new standards, we believe its biometrics reader is as secure as entering a PIN on a merchant’s terminal.”

That all points to considerably more convenience – not to mention security – for New Zealander consumers.

May 16, 2018 – by Alex Perala