Generation Superconnected: The Coming User Authentication Shift
New Data: ‘Generation Superconnected’ Want FIs, Merchants To Ditch The Password
Superconnected consumers use a variety of connected devices to interact, shop and pay online, but say password-based authentication slows them down. PYMNTS, in collaboration with Nok Nok Labs, surveyed 2,127 consumers and found that these highly connected, highly desirable customers want financial institutions (FIs) and merchants to ditch the password and provide a better and more secure way to authenticate themselves online.
Inside the July Report
- 59 percent: Portion of digital application users in large cities or urban areas who use digital wallets
- 42 percent: Portion of all respondents who interact with banks using online or mobile channels who prefer username/password logins
- 52 percent: Share of consumers who are “very” or “extremely” interested in multifactor authentication who live in large cities or urban areas