With the advent of the internet, businesses have increasingly been collecting data on consumers. This data includes everything from names and addresses to credit card numbers and social security digits. While this information is often used to improve the customer experience, it also creates a risk of identity theft and fraud. To help protect consumers security, businesses should take steps to secure their data.
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Data for today’s episode is provided by Mercator Advisory Group’s report – 2019 U.S. PaymentsInsights – Technology and Fraud: Consumer Concern Is Real.
7 Statements about Protecting Security that Consumers Strongly Agree With:
- 70% of consumers claim they are, “cautious about giving out my card details over the phone”.
- 68% of consumers claim that companies they give their payment details to are “responsible for protecting that information”.
- 64% of consumers claim “banks are responsible for protecting payment and personal info”.
- 64% of consumers claim they use strong passwords to protect personal info.
- 56% of consumers claim they take actions to ensure their info is not hacked or stolen.
- 53% of consumers worry about storing credit card info in online shopping wallets.
- 38% of consumers claim they don’t trust companies to protect their personal information.
Mercator Advisory Group’s most recent consumer survey report, Technology and Fraud: Consumer Concern Is Real, from the bi-annual North American PaymentsInsights series, takes an in-depth look at U.S. consumers’ current perspectives on technology and fraud.
This report explores how technology and fraud impact consumers lives and, in particular, the way they shop and pay for things. This includes detail on not only what they do but also how they feel about these two important consumer issues.