Consumers Fear E-Payments
SAN FRANCISCO–Credit unions and other e-commerce providers have a long way to go to build consumer trust in the online channel, according to a new study. The study, conducted by TNS Sofres for Gemalto, found 57% of Americans afraid someone will steal account passwords when banking online, and 38% do not trust online payments.
The research, titled “Digital Trust Barometer,” focuses on people’s attitudes and behavior concerning digital security and technology. It showed people’s concerns about digital security go beyond the Internet. Only 22% felt “very good” about the security in any of the digital technology they use, indicating the vast majority of Americans remain wary.
Identity theft topped the list of their fears at 74%, with 44% afraid of online bank account hijacking. Apparently for good reason–fully 21% of respondents had already suffered from bank data theft.
The research showed large numbers of Americans liked the idea of a personal portable security device that will protect them online; 37% were interested in a “USB key,” like those containing smart card technology, to secure Internet payments and online accounts.
The survey’s authors said it also proved there is an upside to restoring online trust–40% of Americans declared they would purchase more online if security was reinforced, and 49% would visit new merchant websites. It was also clear there is a good “return on branding” when people shop online; 87% of Americans said being at a well known website is reassuring when paying online. Still, 44% of Americans are worried when they purchase with their credit card online.
Asked whom they trust as a source of reliable information on digital security, 42% of respondents believed friends and family are the most reliable source for security advice. After relatives, 27% of Americans considered companies specialized in digital security as an accurate and reliable source of information. Banks, at 7.6%, were a distant third as a trusted information source.
The authors noted the findings further suggest that converging banking and payment services onto mobile handsets, such as those based on Near Field Communications standards, could be trusted by security wary consumers.
For info: www.gemalto.com.
