Older Millennials Show Greater Interest In Using Smartphone Cameras For Authentication

It’s a common knowledge that millennials love their smartphone cameras and that businesses try to benefit from the growing interest in smartphone cameras. Companies such as Amazon, MasterCard, and Alibaba are focused on figuring out whether smartphone cameras can be applied in the online payment authentication field.

A recent report from Osterman Research commissioned by authentication provider MiTek shows that millennials preferring their phone camera for purchase authentication make up only 4%. 46% claim they would use their phone camera for this purpose.

Similar statistics was found with regard to using selfies for personality identification. 6% currently use this method, and 39% said they would use it. Similar numbers were reported regarding using selfies for new account enrollment. 5% claim they choose the mentioned method and 31% would like to do so.

It was interesting to see the results of the research concerning a different group of millennials. The oldest group of millennials, which includes those aged 29 to 34, use the camera on their phone more often than the younger segment aged 18 to 22 and 23 to 28.

It became clear from the research that older millennials think the camera on their phone has the most important function of all features. As Kalle Marsal, CMO of MiTek notes, the payments industry can benefit from this to a great extent.

With this in mind, it is highly important for merchants involved in an online business to turn to a reliable payment processing company like emerchantbroker.com for safe and secure payment transaction processing. EMB is voted the top high risk payment processor in the United States and boasts an A+ rating with the Better Business Bureau (BBB). EMB is one of Inc 500’s Fastest Growing Companies of 2016 and is rated A by Card Payment Options.

Marsal further adds that they had expected younger groups to have more interest in phone cameras. The reason of the results may be because older millennials already have their families and use their phone camera as their main camera. The important thing is to know that the generation has different approaches in this concern. With age, millennials discretionary income grows, and the quality of mobile experience becomes more significant to them.

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