NEW DATA: 40 Percent Of Consumers Think Online Security Can Be Better, Faster

Whether they’re shopping on their phones or the web, consumers want to be able to do so in a fast, easy way. So, when it comes to accessing their accounts to shop online, the way they are authenticating needs to be a footnote at best.

That’s not to say consumers don’t want top-notch security, according to the PYMNTS Digital Identity Lifestyle Capsule, a Socure collaboration. While speed and convenience are two of the top factors that influence consumers’ satisfaction with authentication methods, like passwords or PIN codes, a growing number of customers are concerned with data security — especially with growth in cyberattacks.

That said, when it comes to shopping online, consumers still want to authenticate in familiar ways.

That puts the pressure on eCommerce merchants to not only make sure their customers’ information is safe, but to do so in a way that takes as little time as possible. Even as customers cling to older authentication methods like passwords, the use of up-and-coming methods like biometric authentication could help merchants provide the speed and security for which customers are asking.

Key Findings:

• Ninety-one percent of customers are required to provide email addresses to create new accounts.
• Sixty percent of customers authenticate their existing accounts using a password.
• Thirty-seven percent cited data security as the reason they were satisfied with how they authenticated.
• Sixty-nine percent of consumers picked ease-of-use as the reason they were satisfied with how they authenticated an eCommerce transaction.

About The Report

The Digital Identity Lifestyle Capsule series, a PYMNTS and Socure collaboration, provides an overview of — and additional insights into — the consumer trends dominating the digital security market. This edition examines the intersection of digital security and eCommerce to determine what customers really want from merchants in terms of data and fraud protection.