James Pope of the College of Business Administration, University of Toledo, Ohio, and Dieter Bartmann of the University of Regensburg, Germany, explain that the security of online financial transactions is becoming a problem, especially as security loopholes in login systems and web browsers emerge repeatedly.
Simply logging in with a password looks set to become technically passe.'Passwords have been widely used because of their simplicity of implementation and use but are now regarded as providing minimal security,' the researchers say.
As repeated scare stories about hacking and identity theft pervade the media, consumers are becoming increasingly concerned about online security.
Further development of e-commerce and banking will be stifled if the issues of fraud and identity theft are not addressed, a University of Toledo release says.
The findings were published in the International Journal of Electronic Marketing and Retailing.
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