Technology

37% of Brazilians give up on web purchases due to forgotten passwords

A study by FICO highlights that local consumers still write down keywords or use few of them across many services, generating security risks online

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Image: PopTika/Shutterstock
  • Brazilians are increasingly accepting new authentication technologies: 86% agree to provide biometrics;
  • According to the survey, 53% prefer to enter their accounts with passwords sent by SMS at each access.

According to a recent study by FICO, a U.S.-based data analytics firm, 37% of Brazilian consumers have already given up purchasing a product over the internet because they forgot their password. The study also highlights some Brazilian habits to remember their keywords that bring different risks: 29% of consumers use five or less passwords in all their accounts and 23% choose to leave them noted, for example, on a pad or on the cell phone itself.

READ ALSO: 59% of online consumers in Brazil increased e-commerce purchases amid the pandemic, says AMI

Brazilians are increasingly accepting new authentication technologies: 86% agree to provide biometrics to their bank and 89% approve the financial institution to analyze the way they enter their password to improve security. Among biometric resources, 83% would use fingerprint, 54% facial reading and 35% eye scanning.

The survey also found that the traditional form of authentication with login and password is being less adopted on mobile devices – only 45% prefer to type them.

READ ALSO: Brazilian e-commerce grew 75% in May, according to Mastercard

According to the survey, 53% prefer to enter their accounts with passwords sent by SMS at each access, 50% consider fingerprint reading as a good alternative, 36% opt for facial reading and 34% prefer that new random passwords are always sent by email.

“The survey highlighted that Brazilians are interested in new authentication technologies that make their daily lives easier. In a competitive environment in which more and more activities are carried out digitally, providing customers with a pleasant, efficient and secure experience when they use their accounts and purchase products online is a great competitive advantage”, says Alexandre Nardy, fraud consultant at FICO.