Market Overview

Security Fears Threaten Biometric Payments Growth Reveals TNS Report

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Biometric payments are poised for significant growth, but substantial
consumer security concerns could put its future at risk according to a
new report from Transaction
Network Services
(TNS).

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180731005457/en/

New report reveals vital insights into consumer attitudes to biometric payments (Photo: Business Wir ...

New report reveals vital insights into consumer attitudes to biometric payments (Photo: Business Wire)

Vital Insights into Biometric Payments Adoption, which is
being published by TNS today, shares the results of an independent US,
UK and Australian survey* commissioned by TNS which explores consumer
attitudes toward and experiences with making biometric
payments
. The report reveals that 15% of adults have made a
biometric payment in the last year, including a quarter of 18 to 24 year
olds.

Mark Collins, Managing Director of TNS' FinTech
Solutions business in the EMEA region, said: "We are delighted to see
that biometric payments are being tested by consumers, however, a
staggering 61% felt that providing companies with their fingerprint and
iris information put their personal identity information at risk. The
industry needs to take measures to both ensure the security of this
sensitive information and to convey to consumers what protections are in
place.

"It's exciting to hear that more than half are willing to use the
widening range of biometric identifiers available, which now includes
iris and vein scanning, as well as facial recognition and fingerprints.
Reassurance will be the key to ensuring that biometric payments achieve
the successful future that our survey data suggests."

TNS' report, which is free to download,
also highlights:

  • Fingerprints were chosen as the most popular identifier overall;
    however, the second choice varied by region
  • 68% believe biometric payments will become more commonplace in the
    next 2-5 years
  • Trust in biometric payments among US adults has increased slightly
    since TNS' last survey two years ago
  • Usage in the last year has been greatest among UK adults
  • In the US and UK more men reported security concerns, but in Australia
    women were most concerned

The report is available to download by clicking
here
or emailing solutions@tnsi.com.

Founded in 1990, TNS is a trusted partner to the payments industry and
offers a broad portfolio of solutions, including secure and resilient
transaction delivery services that are used by many of the top banks,
transaction processors and ATM deployers around the world.

The organization has secured a strong payments heritage, providing
services across Europe, the Americas and the Asia Pacific regions. TNS
is a Level 1 PCI DSS certified service provider and a global board
member of the ATM
Industry Association
(ATMIA). TNS' secure network is supported
24x7x365 by multiple Network Operating Centers around the world. For
more information about TNS, please visit www.tnsi.com.

ENDS

* KANTAR TNS commissioned a US, Australia and UK survey in March 2018
on behalf of Transaction Network Services. The survey interviewed 1,027
US adults, 1,032 Australian adults and 1,024 UK adults. The survey was
conducted by online self-completion interview between 8
th
– 12
th March 2018 by Kantar TNS. The survey is
designed to be nationally representative of adults interviewed per
country. The surveys use a quota sample based on age interlocked within
gender, and a regional quota. Post fieldwork correctional weighting
within age, gender and region, has been used to ensure the
representativeness of the survey.

About Transaction Network Services:

Transaction Network Services (TNS) is a leading global provider of data
communications and interoperability solutions. TNS offers a broad range
of networks and innovative value-added services which enable
transactions and the exchange of information in diverse industries such
as retail, banking, payment processing, telecommunications and the
financial markets.

Founded in 1990 in the United States, TNS has grown steadily and now
provides services in over 60 countries across the Americas, Europe and
the Asia Pacific region, with our reach extending to many more. TNS has
designed and implemented multiple data networks which support a variety
of widely accepted communications protocols and are designed to be
scalable and accessible by multiple methods.

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