Password frustrations are driving potential customers away and may be costing businesses money, according to a new study by Transmit Security.
Of consumers polled, 55% have stopped using a website because of an error-prone password process. And 92% will leave a site instead of recovering or resetting their login credentials, the study says.
Moreover, 87.5% have been locked out of an online account because an error-laden process, the study adds.
The lockouts have affected people in all age groups, with 81% of those ages 55 and over facing the issue versus 89% of those under 35 years of age.
The data prove that getting people to click through in an email is only part of the challenge -- what happens next is critically important.
Meanwhile, 41% of consumers admit they often share their passwords, and 52% have shared a password to an online account with someone else.
In addition, 10% of Californians continue to have access to a password that belongs to an ex-partner, former roommate or colleague, the study finds.
“The number of consumers getting blocked from their online accounts because of poor password experiences is staggering,” states Mickey Boodaei. CEO and co-founder of Transmit Security.
Boodaei adds: “Customers are dropping out of transaction processes -- or failing to use a site at all -- due to overly complicated, and oftentimes error-ridden password systems.”
Transmit Security surveyed 600 U.S. consumers.
So true, so true. Many sites have lost my business due to password or reset issues. And let's not forget the "remember me on this computer" - I've asked my cable company over 20 times and they still put me through this ridiculous "text me a code" process to login.
So true and Dan Wald is exactly right. The problem is probably more acute for people 70 and older, who are an increasingly important demographic, but less computer savy.