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More education is needed to increase consumer awareness and allay security concerns about contactless credit card technology, according to a report from Auriemma Consulting Group Inc.
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The Westbury, N.Y., firm said Wednesday that only 3% of the 508 credit card users it surveyed in the first quarter were familiar with contactless technology. But after being informed about the payment method, "consumers were seven times more likely to want a contactless card," Auriemma said.
Twenty-three percent of respondents said identity theft concerns would prevent them from using contactless cards.
