Friday, February 09, 2007

Right Product, Right Place, Right Time

Fearful consumers cry out for biometric security
'Security threats create need for biometrics'

In an international survery conducted by Unisys, consumers have voiced their strong support for biometrics. The rising fear of identity theft has left consumers "overwhelmingly in favor" of the widespread use of biometric technology to identify individuals through physical characteristics such as fingerprints, research has claimed.

Data released today by Unisys indicates that consumer mistrust of the current processes that government and business use to protect the security of personal information has reached new highs.

As a result, an even greater percentage of US (69 per cent) and UK (92 per cent) consumers would prefer financial institutions, credit card companies, healthcare and government organizations to adopt biometric technologies to verify personal identities safely and quickly.

This compares to other protection measures such as smart card readers, security tokens or passwords/Pins.

The research was conducted on behalf of Unisys by the Ponemon Institute which polled 1,744 respondents from a sampling frame of close to 16,000 consumers in the US and coordinated with Ipsos/Mori in the UK, which polled 500 consumers in November 2006.

This is obviously great news for a company like Pay By Touch. The study suggests that Pay By Touch and their multi-patented biometric payment platform may be in the right place at the right time, especially considering that they also identified, targeted, developed, and introduced separate divisions designed for Financial Institutions and Healthcare.

Recently introduced products like TrueMe and ATM Direct also imply correctly targeted segments and thus favorable positioning for the company. It doesn't hurt that they also identified and introduced Pay By Touch in the U.K.

"We have seen a consistent outcry among consumers for more effective technologies, like biometrics, that will better equip businesses and government organizations to protect and verify personal information in a way that's reliable and convenient," said Mark Cohn, vice president for integrated security programs at Unisys. Thus...

Right Product,
Right Place,
Right Time...

Pay By Touch

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