Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Digital Identity, Security & Online Fraud

Eight in ten Canadians count their identity among their most valuable assets

Friday 6 September 2019 | 10:59 AM CET

Eight in ten Canadians (83%) describe their identity as one of their most valuable assets, with 52% indicating it is more important to protect their identity online than their money, according to Interac study.

While our lives have become increasingly digital, our identity documents, such as passports and driver's licences, remain physical in nature. As a result, nearly half (45%) of respondents are improvising by taking photos of their physical IDs in order to conveniently access their documents digitally – even though six in ten (59%) acknowledge sharing such documents is risky behaviour.

Presented with scenarios where digital versions of driver's licences, passports and health cards could be used, the vast majority of Canadians (86%) felt that the digital version was more convenient than the physical version in at least one case.

While Canadians recognise the convenience, security is a key concern, with nearly two-thirds (65%) fearing that a digital ID would be at a greater risk of theft than a physical ID. This apprehension can be attributed in part to a knowledge gap in understanding digital ID overall, with nearly eight in ten (77%) saying they don't know enough about how to protect their identity online.

In order to feel secure using a digital ID, Canadians are looking for the familiarity of the protections they associate with digital payments. Seven in ten (72%) say using a digital ID to access government services should be as secure as making a payment online. Moreover, six in ten (62%) indicate that knowing their digital ID is protected by the security used by their bank or financial institution would drive them to favour digital IDs over physical ones. Canadians are also keen for government to play a role in the delivery of digital IDs, with almost six in ten (58%) indicating they would trust these IDs more if they knew that regulations were in place to protect their interests.

 advertisement
 advertisement
 advertisement
 advertisement