Consumer Behaviors and Perceived Security Across Devices

Millennials, Gen Z Use Mobile Banking 5X More Than Their Parents

Millennials and Gen Z embrace mobile devices to complete financial activities more than other generations. PYMNTS’ latest report, “Consumer Behaviors and Perceived Security Across Devices,” a collaboration with Entersekt, draws on insights from 2,584 consumers to determine their device and security preferences, including their use of MFA.

Inside the April Playbook
  • 76%: Portion of consumers who believe smartphones are secure and are likely to use them for personal cash transfers
  • 83%: Share of banking consumers who want multifactor authentication for infrequent transactions
  • 42%: Portion of consumers who want to verify their identity every time they pay for goods or services

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