*The following is excerpted from an online article from Security InfoWatch.
According to new research conducted by Opinion Matters on behalf of Visa Europe, more than three-quarters (76 percent) of 16 to 24 year old consumers in the UK would feel comfortable using various biometric security measures, such as facial recognition, fingerprints and retina scans, to make payments in place of traditional authentication methods like passwords. Another 69 percent of people polled in this age group also believe biometric payments will make their lives faster and easier.
In addition, the research found that the approach of this generation (commonly referred to as “Generation Z”) to current security options places them at greater risk of data and financial compromise.
For example, those within this age group were found to be more likely than older adults to use only a single PIN number (32 percent) or password (14 percent) when protecting their personal data. In addition, Generation Z is also more liberal in sharing their security information than older generations.
This group is also more likely to find existing security measures an irritating step when paying for something (64 percent vs 59 percent of all adults). More than half of Generation Z believes that passwords and PIN codes will no longer be necessary by the end of the decade.
Of the new payment methods available to consumers, Generation Z is most keen on verification via fingerprint scanning. Nearly 70 percent of 16-24 year olds say they want to use rather than passwords by 2020. Other methods interest this generation such as retina scans (39 percent) and facial recognition (27 percent), though voice recognition (12 percent), fast DNA samples (15 percent) and implanted chips (16 percent) remain less popular options.