Tuesday, February 21, 2017
Surprisingly, consumers are less concerned with mobile wallet security—according to new benchmark data from ACI Worldwide and Aite Group
Tuesday, February 21, 2017
NAPLES, FLA—February 21, 2017—Consumers across the globe are more concerned with protecting their financial and payments information stored on a computer than they are with protecting this data when stored on a mobile wallet, according to new benchmark data, “Global Consumer Survey: Consumer Trust and Security Perceptions,” from ACI Worldwide (NASDAQ: ACIW) and Aite Group. The global fraud study of more than 6,000 consumers across 20 countries revealed that only 43 percent of global consumers trust businesses, including restaurants and merchants, to protect their financial data—while surprisingly, more than 80 percent of global consumers generally believe their mobile wallet data is secure.
As payments are increasingly shifting to mobile devices and global fraud continues to rise, consumers must be vigilant about mobile fraud protection. Across the globe, consumers are adapting to technology advancements—including the ubiquity of mobile wallets and a continued shift to online shopping—impacting their perceptions around payments data security.
Principal study findings include:
“This data is a further wakeup call to the broader payments industry, including merchants, banks and financial intermediaries, that we must proactively educate consumers about security measures that are in place—to allay consumer concerns, which will not only result in enhanced customer experiences, but also help to reduce fraud losses,” said Andreas Suma, vice president and global lead, fraud and data, ACI Worldwide. “Moreover, consumers must become more proactive in securing their personal data by using the fraud prevention measures and services offered by their financial institutions.”
“Our research shows that consumers want to proactively manage fraud, particularly by leveraging mobile technology – whether it’s text or talk,” said Shirley Inscoe, senior analyst, Aite Group. “This willingness opens opportunities for financial institutions to optimize the ways in which they reach out and communicate with consumers, ultimately improving the customer experience while reducing operational costs and fraud losses.”
* Methodology and Demographics:
ACI Worldwide, a global leader in electronic payments for financial institutions, retailers, and processors, conducted online quantitative market research in April 2016 and surveyed 6,035 consumers. The study was conducted in a total of 20 countries in the following regions:
In total, 6,035 consumers were included in the research—approximately 300 consumers, divided equally between men and women, participated in each of the 20 countries. Of the total, 5,861 own one or more type of payment card—credit card, debit card, or prepaid card. This is the fourth time that ACI has fielded this type of survey, and some comparative results are included from 2012 and 2014. In each country, the data have a margin of error of approximately five points. Statistical tests of significance, where shown, were conducted at the 95% level of confidence.
About ACI Worldwide
ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries as well as thousands of global merchants rely on ACI to execute $14 trillion each day in payments and securities. In addition, myriad organizations utilize our electronic bill presentment and payment services. Through our comprehensive suite of software and SaaS-based solutions, we deliver real-time, immediate payments capabilities and enable the industry’s most complete omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com. You can also find us on Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2017.
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- See more at: https://www.aciworldwide.com/news-and-events/press-releases/2017/february/fewer-than-50-percent-of-global-consumers-trust-businesses-to-protect-their-data#sthash.tHLO3UoW.dpuf
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