Consumers Doubt Security Of Mobile Transactions, Study Finds

Most consumers worldwide remain reluctant to use mobile devices such as cellular phones for mobile banking and payments, and a majority does not trust mobile devices to provide secure transactions, suggest recent survey results from Unisys Corp. Seventy-one percent of respondents would not consider using a mobile device to bank or shop online, and 59% do not believe their mobile devices will provide secure transactions, according to the survey. Financial institutions should "realize there is opportunity out there, but there's also concern about the perception of mobile banking," says a Unisys spokesperson. "Banks need to look at the big picture and need to educate consumers to get them over the fear factor." Blue Bell, Pa.-based Unisys surveyed 13,296 consumers in 14 countries in March.