Generation Z customers choose biometrics over passwords

According to new research conducted by Opinion Matters on behalf of Visa Europe, 76% 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% of people polled in this age group also believe biometric payments will make their lives faster and easier.

Findings also reveal that the approach of this generation to current security options places them at greater risk of data and financial compromise. Those within this age group were found to be more likely than older adults to use only a single PIN number (32%) or password (14%) when protecting their personal data.

Generation Z is also more liberal in sharing their security information than older generations. 34% have shared their debit or credit card PIN number with someone, 32% have shared their smartphone password and 22% have shared their internet banking password.

This group is also more likely to find existing security measures an irritating step when paying for something (64% vs 59% 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.

They also believe that biometrics are more secure than non-biometric identification methods. When asked to rate biometric forms of authentication on a scale of 1 to 10 (with 1 being least secure and 10 being most secure), Generation Z awarded biometrics a 7 on average, compared with non-biometrics being rated a 6 out of 10.

Of the biometric authentication methods used for payments, Generation Z is most keen on verification via fingerprint scanning, quoted by nearly 70% of 16-24 year olds. Other methods interest this generation such as retina scans (39%) and facial recognition (27%). Voice recognition (12%), fast DNA samples (15%) and implanted chips (16%) remain less popular options.