A user use biometric authentication to open her phone. More Vietnamese consumers are using this method to have their payment. (Photo Courtesy: Visa Vietnam) HCM City (VNS/VNA) - A strong majority of cardholders in Vietnamare interested in using biometric authentication such as fingerprints or facialrecognition to complete transactions, rather than PIN numbers or passwords andother, a study said.
The study, which was commissioned by Visa and conducted by Fabrizio Ward, LLCwas an online survey of credit cardholders in Vietnam which looked intoattitudes towards existing and new methods of payment authentication, with aparticular focus on issues of security, convenience, and reliability.
According to the research, 95 percent of respondents had used fingerprintrecognition in the past to make a payment, making it the most popularly usedform of biometric authentication.
Across the board, the survey found that biometric payments are seen as beingmore secure, faster and easier than traditional methods.
Survey respondents clearly ranked biometrics as some of the most secure formsof authentication, with 97 percent indicating that they felt fingerprintrecognition was a secure method, followed by eye scans at 94 percent, andfacial recognition at 92 percent. These ranked above methods like PIN numbersat 87 percent, and passwords at 84 percent.
Some 83 percent of survey respondents indicated that they had abandoned apurchase online, with the most commonly cited reasons for doing so being thatthey had forgotten a password (41 percent), or they’d had troubles logging onto their account (38 percent).
This could explain why only one in five respondents stated that they use uniquepasswords for each account. At the same time, 93 percent said that they feltsecure when paying using either a PIN or password.
Dang Tuyet Dung, Visa Vietnam’s Country Manager, said: “The study shows thatthere is a clear desire for biometrics in the marketplace, and furthermore,that Vietnamese consumers are very keen adopters of new technologies. These arepositive signs for us, as we work with banks in Vietnam to introduce moreindividualised and secure methods of identifying cardholders so that we can worktowards our goal of eliminating fraud while making the payment process evensimpler for consumers.”
When asked for reasons why they may not currently be using biometricauthentication, respondents’ leading response was that their bank did notsupport the technology. However, a large majority indicated they would likelyswitch away from banks, payment card providers, or mobile services that didn’toffer biometric authentication./.
VNA
