Consumer-facing authentication, including biometric payments, banking and ecommerce applications will also increase. A 2018 report from research and consulting firm Goode Intelligence anticipated that 2.6 billion people worldwide would use biometric payments by 2023.
A nearly similar number of respondents also cited lack of trust in sharing banking data online. Over the past several years, Mexico has enacted initiatives to help boost online security and increase consumer confidence in transacting online.
When internet users in Mexico ages 16 to 55 were asked to cite the reasons they did not make a digital purchase, 77% said that it was because they did not want to risk digital fraud followed by 73% who didn’t trust giving their banking data over the internet, according to a January 2019 AMVO study conducted by Netquest.