It just goes to show you how many sheeple there is in the world ready to give up there rights :roll:
Convenience and Security Drive Enthusiasm, According to Survey on "Changing Behaviors in Retail Commerce"
Los Angeles, CA — September 29, 2005
Regardless of whether your primary form of payment is credit card, debit card, check or cash, three out of five U.S. consumers believe that the unique image of their finger would be the most difficult form of identification to forge or steal, according to a recent national survey conducted by Los Angeles, CA-based Kelton Research Group. In the survey titled "Changing Behaviors in Retail Commerce," consumer confidence in biometrics far exceeds confidence in a passport, photo ID, major credit card, birth certificate and signature combined.
Americans have reason to stress about identity fraud given the financial impact to their wallets, which is somewhere in the neighborhood of $52.6 billion and growing, according to the Identity Theft Survey, Javelin/Better Business Bureau. Credit card leader VISA International has acknowledged in the United States the annual cost of fraud is 5 cents per hundred dollars.
The Changing Behaviors in Retail Commerce survey conducted by Kelton Research Group was commissioned by biometrics payment leader BioPay as a means of gathering insight into today's consumer payment preferences, behaviors and patterns. More and more retailers are considering advanced payment solutions such as biometrics because of the security advantages and financial savings to their businesses and increased convenience for consumers at checkout.
Among the findings in the survey by Kelton Research Group are:
The Identification of Choice. More Americans believe that finger images are a more secure form of identity than passports, credit cards, photo IDs, birth certificates and signatures combined (51 percent to 36 percent).
Women Take to Technology. Women under the age of 44 showed the most confidence in the use of finger image technology; 15 percent more than men of the same age (63 percent to 48 percent).
Cash Is King. Americans may have their concerns about identity theft, but when it comes to day-to-day transactions, one in three prefers the least secure form of payment: cash.
Payment at Checkouts — Faster Please. Forty-eight percent of those surveyed blame long check-out lines on people who wait until the last minute to find their credit or debit card. Another 20 percent believe check writing is burdensome to the shopping transaction as well.
"There is a great deal of routine and consistency in the American form of retail payment," explains Walter Hamilton, Chairman of the International Biometric Industry Association. "However, this research commissioned by BioPay begins to tell a story of America's waning comfort in traditional forms of payment fraught with fraud and their openness to biometric-based payment technology that delivers more convenience and security than what's available in the marketplace."
What Are Consumers Relying on Today?
Until recently, merchants and consumers had to rely on traditional forms of payment such as check, debit and credit card transactions. Merchants can eliminate as much as 75 percent of their transaction costs associated with a VISA or American Express if they opt for a biometric solution from Herndon, Virginia-based BioPay. BioPay has processed 17 million transactions in excess of $6.9 billion.
According to the Federal Trade Commission, 42 percent of identity theft cases involve credit card fraud. More than one in three Americans has either misplaced, had stolen or forgotten their wallet, credit card, checkbook or ID at least occasionally, reports Kelton Research.
How Biometric Payments Work Compared to Other Technologies
The BioPay system uses a person's unique finger image and their chosen BioPay number (usually a phone number) to authorize a secured debit direct from their checking account or other payment accounts. One-time enrollment takes less than two minutes and can be completed at any merchant that offers the biometric payment service. Once enrolled, the customer can make a purchase with their finger in seconds at any BioPay Payments location across the United States. The BioPay service is free to the consumer.
RFID is a technology that allows the user to carry a small "transmitter" in a key fob (like Mobil's SpeedPass) or on a credit card (like Chase's Blink). While RFID applications provide the speed, they still require the consumer to carry something (which is less convenient than their finger) and provide inferior security than a biometric match can provide.
"Our goal is to provide the convenience of a secure, wallet-less world where a person can buy coffee or shop for groceries without the inconvenience and vulnerability of a wallet loaded with credit cards and cash," explains Tim Robinson, president of BioPay. "We also believe that retailers pay too much in credit and debit card fees, and BioPay solves that problem. With merchant pricing that starts at a nickel per transaction, BioPay is not only dramatically less expensive than VISA's typical two percent fee, but we effectively compete with the cost of processing a cash transaction."
About Kelton Research
Based in Los Angeles, Kelton Research is a full-service firm offering a broad array of research capability in quantitative and qualitative data capture, from national polling, regional and community studies, surveys, focus groups and instant response sessions. Its clients include NBC, USA Today, Sony, Starbucks and Continental Airlines, to name a few.
About Biometrics
For information about biometrics as a low-cost form of payment processing, merchants are encouraged to contact industry leader BioPay at www.biopay.com. With more than two million registered consumers, BioPay's customer adoption proves that the time for biometrics is now. More than 1,500 merchant locations, including Moe's Southwest Grill, Maggie Moo's, and Jersey Mike's, are using one or more of BioPay's smart, secure methods for processing financial and other transactions requiring identification such as payroll check cashing, loyalty programs, age verification and stored value programs
Link
Convenience and Security Drive Enthusiasm, According to Survey on "Changing Behaviors in Retail Commerce"
Los Angeles, CA — September 29, 2005
Regardless of whether your primary form of payment is credit card, debit card, check or cash, three out of five U.S. consumers believe that the unique image of their finger would be the most difficult form of identification to forge or steal, according to a recent national survey conducted by Los Angeles, CA-based Kelton Research Group. In the survey titled "Changing Behaviors in Retail Commerce," consumer confidence in biometrics far exceeds confidence in a passport, photo ID, major credit card, birth certificate and signature combined.
Americans have reason to stress about identity fraud given the financial impact to their wallets, which is somewhere in the neighborhood of $52.6 billion and growing, according to the Identity Theft Survey, Javelin/Better Business Bureau. Credit card leader VISA International has acknowledged in the United States the annual cost of fraud is 5 cents per hundred dollars.
The Changing Behaviors in Retail Commerce survey conducted by Kelton Research Group was commissioned by biometrics payment leader BioPay as a means of gathering insight into today's consumer payment preferences, behaviors and patterns. More and more retailers are considering advanced payment solutions such as biometrics because of the security advantages and financial savings to their businesses and increased convenience for consumers at checkout.
Among the findings in the survey by Kelton Research Group are:
The Identification of Choice. More Americans believe that finger images are a more secure form of identity than passports, credit cards, photo IDs, birth certificates and signatures combined (51 percent to 36 percent).
Women Take to Technology. Women under the age of 44 showed the most confidence in the use of finger image technology; 15 percent more than men of the same age (63 percent to 48 percent).
Cash Is King. Americans may have their concerns about identity theft, but when it comes to day-to-day transactions, one in three prefers the least secure form of payment: cash.
Payment at Checkouts — Faster Please. Forty-eight percent of those surveyed blame long check-out lines on people who wait until the last minute to find their credit or debit card. Another 20 percent believe check writing is burdensome to the shopping transaction as well.
"There is a great deal of routine and consistency in the American form of retail payment," explains Walter Hamilton, Chairman of the International Biometric Industry Association. "However, this research commissioned by BioPay begins to tell a story of America's waning comfort in traditional forms of payment fraught with fraud and their openness to biometric-based payment technology that delivers more convenience and security than what's available in the marketplace."
What Are Consumers Relying on Today?
Until recently, merchants and consumers had to rely on traditional forms of payment such as check, debit and credit card transactions. Merchants can eliminate as much as 75 percent of their transaction costs associated with a VISA or American Express if they opt for a biometric solution from Herndon, Virginia-based BioPay. BioPay has processed 17 million transactions in excess of $6.9 billion.
According to the Federal Trade Commission, 42 percent of identity theft cases involve credit card fraud. More than one in three Americans has either misplaced, had stolen or forgotten their wallet, credit card, checkbook or ID at least occasionally, reports Kelton Research.
How Biometric Payments Work Compared to Other Technologies
The BioPay system uses a person's unique finger image and their chosen BioPay number (usually a phone number) to authorize a secured debit direct from their checking account or other payment accounts. One-time enrollment takes less than two minutes and can be completed at any merchant that offers the biometric payment service. Once enrolled, the customer can make a purchase with their finger in seconds at any BioPay Payments location across the United States. The BioPay service is free to the consumer.
RFID is a technology that allows the user to carry a small "transmitter" in a key fob (like Mobil's SpeedPass) or on a credit card (like Chase's Blink). While RFID applications provide the speed, they still require the consumer to carry something (which is less convenient than their finger) and provide inferior security than a biometric match can provide.
"Our goal is to provide the convenience of a secure, wallet-less world where a person can buy coffee or shop for groceries without the inconvenience and vulnerability of a wallet loaded with credit cards and cash," explains Tim Robinson, president of BioPay. "We also believe that retailers pay too much in credit and debit card fees, and BioPay solves that problem. With merchant pricing that starts at a nickel per transaction, BioPay is not only dramatically less expensive than VISA's typical two percent fee, but we effectively compete with the cost of processing a cash transaction."
About Kelton Research
Based in Los Angeles, Kelton Research is a full-service firm offering a broad array of research capability in quantitative and qualitative data capture, from national polling, regional and community studies, surveys, focus groups and instant response sessions. Its clients include NBC, USA Today, Sony, Starbucks and Continental Airlines, to name a few.
About Biometrics
For information about biometrics as a low-cost form of payment processing, merchants are encouraged to contact industry leader BioPay at www.biopay.com. With more than two million registered consumers, BioPay's customer adoption proves that the time for biometrics is now. More than 1,500 merchant locations, including Moe's Southwest Grill, Maggie Moo's, and Jersey Mike's, are using one or more of BioPay's smart, secure methods for processing financial and other transactions requiring identification such as payroll check cashing, loyalty programs, age verification and stored value programs
Link