Paysafe launches new global research into consumer payment trends

LONDON, 4 June, 2019 – Over half of consumers (56 percent) are worried that the shift to biometrics to authenticate online payments will dramatically increase the amount of identity fraud, according to new research conducted by Paysafe, a leading global payments provider. The research found that four fifths (81 percent) of consumers still favour passwords for making payments online due to concerns about the security of new biometric options.

According to the data, two thirds (66 percent) of consumers worry about being able to pay for goods or services without being asked for a password, and only 37 percent believe that biometrics are more secure than other authentication methods.

The report, Lost in Transaction: The end of risk?, explores consumer attitudes to biometrics prior to the roll-out of Strong Customer Authentication later this year. The annual study tracks changing views on payments across the UK, US, Canada, Germany and Austria, and this year includes Bulgaria for the first time.