Dashlane reveals the sites getting on board with passkeys the best

30 July 2024, 16:02 published

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Dashlane, creator of one of the best password managers around, has new research examining which major websites are best adapting to the use of passkey technology.

Passkeys are an alternative form of two-factor authentication which use a cryptographic key stored on a personal device, which is then usually verified using biometric data such as a fingerprint or facial recognition.

Passkeys are phishing and brute-force resistant and even if an attacker has the device that contains your passkey, they cannot use it, making passkeys an excellent alternative to passwords.

Which websites want passkeys?

The results of the inaugural Passkey Report lay bare the domains and industries paving the way for passkeys.

Consumers are largely driving passkey adoption, with websites in frequent use such as social media sites, finance and payment sites, and ecommerce, with Amazon, Target and eBay in the top four fastest growing passkey domains since Q2 2024 – highlighting the significant driving force of ecommerce sites.

Within the finance industry, sites such as Coinbase, Binance, Moneybird, and Stripe lead the pack with more of a focus on enhancing the security of their sites than the consumer push. Finance and payment sites are a lucrative target for attackers, especially those that offer cryptocurrency wallets. Securing these sites is therefore of paramount importance to protect both the revenue and reputation of each brand.

When split into industries, ecommerce makes up 41.7% of the sites driving passkey adoption, followed by software services at 19.9% and finance and payments at 14.4%. Dashlane cites a FIDO study that states the average US consumer gives up on a purchase or stops using an online service around 4.76 times per day because they forget their password. By introducing passwordless access, websites can capitalize on lost revenue.

Dashlane also notes that passkey authentications using their service have grown by more than 400% since the start of the year, growing to 200,000 authentications per month.

“The user friction caused by forgotten passwords and password resets costs businesses millions in lost revenue and time,” noted John Bennett, CEO of Dashlane. “Compromised and weak passwords remain at the heart of most breaches, causing immense financial and reputational harm.”