The relationship between E-commerce companies and their humongous userbase has been strictly guarded by passwords through the years. Passwords have been forced down on users over decades as the only viable form of online authentication, making them the centre point of online vulnerabilities. As an outcome, there has been a plethora of data breach incidents, countless sensitive information stolen, company data tampered with and user security challenges.
To provide extra security to the already existing password-based authentication protocols, the two-factor authentication (2FA) protocol came into the picture. Companies began adding layers of security to user accounts using various forms of verifications such as One Time Passwords (OTPs), personal questions or short-lived tokens sent to the user’s email IDs or phone numbers. However, adopting these methods contributed to a significant spike in user dissatisfaction among customers. Users were frustrated with the timed OTP protocol, not receiving the verification code on time or having to constantly call customer support to complete a sign-in procedure. However, user biometrics, one of the most secure forms of authentication remained unexplored for a long time, until recently.
The core idea of Passwordless Authentication built by FIDO Alliance revolves around utilising a user’s unique biometric identity as an authentication parameter. FIDO’s Passkey-based authentication solution makes use of Face ID, Touch ID etc to verify a user’s identity and complete frictionless signing into their accounts. Passkey paved the way for a seismic transformation within the authentication sector, killing passwords once and for all! A thriving industry like E-Commerce dealing with client bases across the globe could find this sign-in protocol to be highly efficient for their business.
EBay, one of the global e-Commerce giants has recently adopted passkeys to be the new standard of login for their users. EBay experienced a massive security breach firsthand in 2014 when hackers used the compromised credentials of three employees to infiltrate the system and hack the personal data of 145 million users. Tola Dalton, Director of Identity Software Development at eBay pointed out some of the reasons why an e-Commerce giant like eBay has decided to embark on the passwordless journey. He mentioned that while the security aspect can be a significant leverage, it’s the enhanced user experience factor that acts as the catalyst when it comes to the mass adoption of passkeys.
“With an enterprise as large as ours, with a diversified customer userbase and a diverse range of preferences among users, switching to Passwordless and biometric-based authentication protocol won’t happen overnight. We as a company are willing to embark on a transformational journey leading our users to a frustration-free login experience”.
E-commerce companies cater to a broad spectrum of audiences scattered across a wide geographical location and coming from several socioeconomic statuses. When the user base is so dynamic, companies should put numerous things into consideration to ensure that they provide a frictionless shopping experience for their clients. We would highlight three prime factors in which adopting Passwordless Authentication protocols can become a gamechanger for e-commerce companies
One of the biggest reasons why E-Commerce companies should adopt Passkeys is due to the improved security factor that it provides to users. Catering to a diverse range of customers along with ensuring their online security can seem to be a challenge. While passwords were easily hackable, subjected to multiple resets and could be easily misplaced or forgotten by the user, Passkeys leave no such scope. This biometric authentication protocol eliminates the need for a user to remember complicated passwords. Owing to the proximity-based authentication system, Passkeys are impenetrable by hackers and provide foolproof security against phishing attacks and credential theft.
User experience plays a primal role in a company’s economic growth. While security can be a huge selling point, a poor user experience can lead to frustrated customers and low conversion rates. Passkeys are designed to be user-friendly and bring a whole new level of usability to E-Commerce giants. With Passkeys, users can log in to websites/apps within seconds. No complicated passwords to remember, no OTP time-out, no additional hassle. Just a simple face scan or fingerprint can allow users to frictionlessly complete the sign-in process in seconds. Passkeys ensure a smooth and hassle-free user journey from login to checkout, helping e-commerce companies scale their profits within no time!
Passkeys are designed to be highly inclusive and ensure that the benefits of this authentication protocol are enjoyed by all users alike. In the current scenario, most 2FA solutions provide OTP or QR-based authentication layer, making it difficult for users with visual impairment to complete the authentication process. Passkeys utilise a user’s biometric identity and can confirm authentication through a simple Face ID or Finger ID match, eliminating the need for users to scan a code or re-enter credentials. These factors can become a key selling point for E-Commerce companies, allowing them to cater to a much more diverse audience and giving them a significant competitive edge in the online retail sector.
Interested to know how your company can integrate Passkeys without the hassle of building a new code base from the scratch? Become a part of the SoundAuth ecosystem by signing up on SoundAuth.com