Visa payment system shared data of a new study
The Visa International Payment System predicts that the payments industry may abandon passwords in the next five years and switch to other technologies using biometrics or physical features, including fingerprints and facial recognition, Visa senior at CIS Vice President and Southeast Europe Vera Platonova.
According to a Fabrizio Ward study conducted in Ukraine for Visa in January 2020, only 34% of people use a unique password for each account. More than half (54%) of the study’s participants have many different, but not unique, passwords, and every eighth (12%) uses the same password to log in to all of their accounts.
It has been reported that one of the main reasons for using the same combination is to log into different accounts (which increases the chances of hackers hacking an account). Password difficulty. Therefore, every third survey participant in Ukraine mentioned that he forgets his password from time to time.
According to the study, Password fatigue – Global trend. The average employee loses around 11 hours of work time per year just to enter a password. A recent survey conducted by Visa in the United States showed that 68% of buyers refused to buy online because they forgot their password, having problems logging in or using a one-time password.
According to Verizon Data Breach Investigations Reporting 2019, passwords are under constant threat from hackers. Therefore, 80% of unauthorized use of data is caused by hacks and weak passwords.
today Biometric identification Gets popularity in the world due to high security and convenience. 67% of Ukrainians polled believe that biometrics are faster than a password, and 71% – that it is easier than a password. Nearly the same results have been shown by a visa survey in the United States: Two-thirds of respondents considered biometric data to be easier and faster to use than traditional passwords.
Of all the detection methods, users in Ukraine are considered the most reliable:
Fingerprint – 89%
Retinal scan – 87%
One-time password – 83%
Vein pattern scanning – 78%
Face scan – 73%
As stated in the study results, biometrics deprive a person of the need to remember or record multiple passwords, increasing security: even if a phone or payment card is stolen, no one can use them.
It is reported that almost all Ukrainians participating in the visa study used biometrics to identify at least once. Most often, fingerprints (66% – at least once, 36% – regularly). 35% used facial recognition at least once, and 13% used this method regularly. 28% of Ukrainians used behavioral biometrics at least once, and voice recognition – 27%.
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Earlier, F-Secure researchers announced a list of passwords that hackers use most frequently, attacking the so-called honeypots – BaaS servers. Therefore, first, firecrackers try to circumvent security using standard admin combinations. In popularity, the default, 123456 and root are also not inferior to this.
Hackers also always try the vivx code, the password for DVRs created by the Chinese company Dahua, which is used in CCTV systems around the world. Among other common passwords, 1001chin and tazZ @ 23495859 were also found – factory passwords for many devices such as routers.
Behavioral Biometrics: The Most Effective Solution in Ukraine and the World
Vera Platonova, Visa: 2019 was the year of testing new payment technologies. We will see their collective introduction in 2020