According to the report, however, only 33% trust the government to access the same data. When asked who they would be more likely to trust with biometric payments, 85% said banks, 81% chose payment networks, 70% said they would trust global online brands, and 64% would trust smartphones. A further 64% of respondents are keen to start using biometric data as a method of payment authorisation.
Kevin Jenkins, UK & Ireland Managing Director at Visa, said that this consumer confidence in both authentication as well as the storage of their biometric data gives banks the perfect win-win scenario, enabling them to provide a service that the public wants which will also benefit the banks, themselves.
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