9 out of 10 Singaporeans Interested in Biometrics Authentication and Paymentsby Company Announcement March 20, 2018
Singaporeans are interested in using biometric methods to verify identity (97 percent) and make payments (96 percent), recognizing that biometrics are faster, easier and more secure than traditional passwords, according to a recent Visa survey on biometric authentication for payments.
In fact, more than half of the respondents have already used at least one form of biometric authentication including fingerprint recognition (88 percent), facial recognition (56 percent), iris scanning (50 percent) and voice recognition (49 percent). Among the range of biometric solutions, consumers were most familiar with fingerprint recognition, with 51 per cent of them using it regularly.
Mandy Lamb, Group Country Manager, Regional Southeast Asia for Visa, said,
“Singaporeans are early adopters of technology and many of them already have experience with biometrics authentication.
With the proliferation of biometric authentication solutions used by mobile providers and banks, Singaporeans recognize the value these new technologies bring to their everyday lives.
As the country continues its Smart Nation journey, we believe more people will start to adopt biometric authentication.”
Currently, one in five Singaporeans uses fingerprint authentication or facial recognition from their respective banks or mobile phone providers. For those who have not used biometric authentication, 91 percent stated that they would be likely to use fingerprint or facial recognition authentication from their banks in future.
More than half (55 percent) of the respondents agree that the use of biometrics eliminates the need to remember and key in multiple passwords, and PINs, for their respective accounts. Forty-one percent said that biometric authentication is more secure compared to passwords and PINs as they can better confirm individual identities.
Singaporeans believe that fingerprint recognition is the most desired biometric authentication, followed by eye scanning and facial recognition for both online payment and in-store purchases. For online payment authentication, Singaporeans are keen to use it for large purchases (more than $100) and small purchases (under $100), and transfer of funds to the family.
The preference is similar for in-store purchases, including using biometric authentication to pay for a meal at the bar or restaurant and buy tickets for transportation.