24 November 2020
Earlier this year, iProov published data showing that the average American abandons an online purchase 16 times a year because they can’t remember their password. It’s not much better in the UK; the average Brit abandons 15 purchases a year.
Think of all the frustrated customers trying to remember their passwords. Think of the millions of dollars of lost sales. Think of all the marketing budget invested in getting a customer to the point where they’re ready to pay…and then an unnecessarily clunky log-in process that hasn’t changed much in 20 years sends them away.
How does biometric authentication reduce abandoned purchases?
Biometric authentication provides two things that passwords cannot offer: security and usability. Passwords can be stolen or guessed. Your real face cannot be stolen. Liveness detection enables customers to complete a face scan lasting a few seconds, which confirms that they are the right person (replacing the need for a password) and that they are a real person.
This means that customers get a simple, convenient, hassle-free way to log into a website within seconds, which prevents abandoned purchases. Retailers, on the other hand, can increase their security against fraud.
Consider the difference between passwords and Liveness Assurance from iProov:
Using iProov Liveness Assurance:
It’s time to bring authentication into the 21st century. Let’s aim for a Black Friday without the password frustration and abandoned purchases in 2021. Read more about passwordless authentication from iProov.