E-wallets are pioneering technology capable of digitally storing ID, driving licences, biometric documents and payment cards all in one place for frictionless use and access to services.
The satisfaction of e-wallet users is compounded by the statistics that in a recent survey revealed that more than 50% of Brazilian people are utilising digital credentials on their smartphone, including 25% uploading the national Carta de Identidade Nacional ID card.
Digital ID wallet mania has exploded with a few examples including AliPay which has now integrated with China’s main cypto provider, Digital Yuan, to facilitate express payments for e-commerce websites. The fresh announcement was made today (Tuesday, December 13) by Ant Group’s Chief Compliance Officer, Li Chen.
The EU-wallet is also making significant headway as it embarks on the next stage of approving legislation on common technical standards for the issuance and usage of the wallet for EU citizens. The project has a 4 year timeline to provide “universal access for people and businesses to secure and trustworthy electronic identification and authentication”, meaning data protection and controlled sharing of identity data is a high consideration.
Revealed in the survey, 46% of the Brazilian population use biometric fingerprint recognition to tap digital services and login to their device, with fingerprint recognition out performing use of iris (5%) and voice recognition (4%) as a step-up from traditional passwords.
The survey also indicates that facial recognition is a common and popular method of authentication with 37% of respondents in agreement.