Two in Five UK Consumers Would Swap Their House Keys for Their Fingerprint

New research from Visa has revealed that two in five (40%) UK consumers would replace everyday personal items with biometrically powered devices – such as replacing their house or car keys with fingerprint access or facial ID. Surprisingly, nearly a third of people over the age of 65 would also make this swap.

Brits back biometrics

The research, which surveyed 2,000 UK consumers, suggests a notable behavioural shift towards embracing digital tools for safeguarding personal information.

The findings discovered that over half (52%) agree biometric authentication is more secure than passwords, while over two in five (42%) consumers would feel more secure using biometrics to protect their data than traditional methods. In the future, almost a third (31%) of respondents would consider using eye scanning technology to make payments online, which involves scanning the unique patterns in a person’s retina to confirm their identity securely.

As consumers become more aware of data sharing, they’re seeking out solutions that offer greater control over their personal information. Consequently, two-thirds (61%) would be willing to adopt a form of identification that only they can access digitally.

Fraud fears fuel a focus on biometric tech

As fraud attacks become increasingly sophisticated, innovative solutions are needed to better protect consumers’ personal and financial information.

Visa research found that UK consumers agree that biometrics play a critical role in protecting themselves from crime, with over half (54%) agreeing it can reduce fraud. Additionally, over half (52%) feel that biometric authentication is more secure than passwords, while the same percentage of respondents feel that biometrics can help better secure their transactions and financial information.

Ditching physical documents for identifying digitally

With fraud fears growing, nearly half (49%) of UK consumers are now open to replacing their physical documents—like driver’s licenses and passports—with a digital document to enhance the protection of their personal information.

Among different age groups, younger consumers aged 18 to 34 show the highest willingness to adopt this trend, with over half (56%) expressing interest, compared to above a third (37%) of those aged 65 and older. When asked where they would consider using digital documents, the most popular choices were airports (62%), hotels (44%), and concerts (32%).

Business blockers for digital solutions

Despite the demand, the research also found that out of 500 UK businesses, over a third (38%) still don’t offer their customers the option to use biometrics or digital documents for online payments. Of those who don’t currently offer this option, factors limiting the implementation of these solutions included not having the budget (32%), expecting AI will do everything biometrics can soon (26%), and because they were unsure how to begin the process (25%).

However, the benefits of biometrics are quickly being realised, with two thirds (68%) of businesses believing greater adoption will expedite everyday processes, and over three quarters (76%) agreeing that biometrics allow for a faster customer experience.

Password problems are costing customers

Additionally, this comes at a time where password frustration is identified as one of the biggest ways businesses are losing customers, with over half (52%) of consumers abandoning an online purchase because of a bad login experience. Meanwhile, almost one in five (19%) consumers gave up on a purchase because they did not know their password and didn’t want to reset it.

Mehret Habteab, SVP Product and Solutions, Visa Europe comments: “We might not be saying goodbye to our car keys, driver’s licenses and passports overnight, but the desire to digitally establish that we are who we say we are is growing among consumers. The onus is on organisations to invest in the innovation, research and development that can make this happen in the safest way possible.

“Visa is one of these organisations and a particular focus for us is fraud and security, specifically supporting robust cryptographic based biometrics credentials. Fraud remains a significant issue in the UK, accounting for over two-fifths of reported crime and it has a hugely detrimental impact on individuals’ financial and mental wellbeing. Combatting these issues through biometric systems and digital documents to verify identities empowers people to take greater control of their personal and financial data.”