Today In Data

For Consumers, Control (Over Transactions) Is Key

For Consumers, Control Over Transactions Is Key

Black Friday and Cyber Monday have come and gone. With eCommerce now surging into the holidays, consumers may be mindful of the state of their (digital) wallets, eyeing balances. The time is ripe, too, for fraudsters to strike.

To that end, and as found in a recent edition of the Consumer-Centric Authentication Playbook, a significant number of consumers want control over their banking apps, especially when they transact with merchants. The data shows the divide between the desire to add layers of security and the actual ability to do so.

Data:

89.1%: Share of people who use banking apps who want to set additional login requirements.

70.2%: Portion of consumers who want authentication controls for added security.

39.9%: Share of consumers who use apps that offer transaction-specific authentication controls.

64.5%: Portion of users who would like to have authentication controls in place for merchant or contractor payments.

34.3%: Share of consumers who can actually choose their login controls.

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