PIN has become the authentication method of choice for payment in the UK and beyond. Introduced to combat fraud it offers a simple, secure and fully inclusive solution for all.
However, with the increasing need to identify consumers online new forms of authentication are being proposed; bio-metric, face-recognition, one-time-password… Regardless of how impressive the technology, all suffer the same hurdles to wide-scale adoption: audience re-educated and significant payment infrastructure updates. The former causes frustration and sales abandonment, and the latter causes disruption and is extremely costly. Add to this the lack of consistent user experience between platforms, and many challenges lie ahead.
However, with the advent of PIN on Mobile, the authentication method of choice can start migrating to digital mobile platforms resolving without the need to re-educate the audience or re-engineer infrastructure. Sounds too good to be true, but does the consumer still trust PIN on these new platforms? The following report focuses on exactly this question with an interesting conclusion: PIN still remains king.