Agreed. My day job is in fintech. Our average customer age is > 60.
Explaining 2fa via SMS to that age group is hard enough. Adding authenticators or QR codes into the mix would blow their frail minds.
Explaining 2fa via SMS to that age group is hard enough. Adding authenticators or QR codes into the mix would blow their frail minds.
2. Actual physical keys are expensive. The margins on many types of depository accounts are razor thin, and giving everyone a physical key would be significant.
3. So an option to #2 is then to use the physical key built into nearly all smartphones these days. But I can definitely say that, at present, that option still doesn't work that great. Have had loads of problems using a phone key with Google's Advanced Protection, many times bugs on Google's part. Also, this normally depends on bluetooth, which can have a ton of connection issues.
Today millions of people are using PSD2 compliant SCA (that should not rely on SMS tokens only) in Europe. Usually implemented by a push notifications that you need to approve using biometrics on your smartphone.
“What technology you grew up with” is definitely a factor (not the only factor, but a big one) in “what technology you feel comfortable using”.