Mobile is Changing Authentication for E-Commerce

Mobile is Changing Authentication for E-Commerce

July 11, 2019

Advancements in mobile technologies have made it easier for consumers to make purchases using their mobile phones. The rise in mobile commerce has driven the need for advanced authentication technologies, according to a new study, “Lost in Transaction: The End of Risk?” published by PaySafe.

According to the report, “48 percent of consumers have already authenticated a payment using some form of biometric authentication, rising to 54 percent in the U.K. There is strong evidence to support the theory that this adoption is being driven by the growth of mobile commerce, and particularly by consumers under the age of 40.”

Despite the September mandates of 3D Secure 2.0 for all e-commerce in Europe, biometric authentication is already quite popular, especially for 18-24 year olds. “The adoption rate also exceeds 60 percent for consumers in the 25-39 age bracket (61 percent) and for 16-17-year-olds (60 percent), and then falls significantly for every age group over 40. Thirty six percent of 40-54-year-olds have used biometrics to verify online payments, falling further to 21 percent of 55-64-year-olds and finally 10 percent of over 65-year-olds,” the report said. 

The most popular forms of biometric authentication are fingerprint technology (38 percent), facial recognition technology (17 percent) and voice-activated authentication (11 percent). “This reflects the gap between the percentage of consumers that currently make online payments using a smartphone and the percentage that make payments on a Smart Home device,” the report said.

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