Consumers engaged by issue of biometrics verifying payments, says study

MasterCard said that a review of 2 million posts on social media platforms such as Facebook and Twitter, carried out by PRIME Research, found that an increasing number of consumers are taking "a positive or neutral view" of mobile payments security.

"The end of passwords and biometrics were among the most engaging topics in 2015, reflected in social conversations in 163 countries around the world," MasterCard said. "Fingerprint and electrocardiogram (ECG) payments-related technology became an engaging topic for users throughout the year, while facial recognition remained a top driver (55%) of biometrics-focused conversation."

Late last week HSBC and first direct announced plans to use voice and fingerprint recognition technology as a mechanism for customer authentication for their mobile and telephone banking services. The companies said that technology "will deliver a superior and more secure banking experience".

"The new security processes will enable customers to access their accounts – mobile app and telephone banking – through advanced technologies that use the unique characteristics of an individual’s body, specifically voice and fingerprint, to verify an account holder’s identity," HSBC and first direct said in a statement.

New YouGov research commissioned by the companies found that more than a third of consumers believe traditional passwords to be "an outdated security measure". Approximately three quarters of the 2,038 UK adults that responded to the survey said they are "confident their body is unique enough to be used as a password" and that their bodies "will become the default password of the future", the banks said.

Tracy Garrad, chief executive of first direct, said: "While technology has evolved at pace, the security measures we use in everyday life have not kept up with the rate of change. Our voices and fingerprints are unique, with physical and behavioural characteristics almost impossible to mimic. While this is the largest roll out of voice ID in the UK banking, other industries will soon follow our lead."