Consumers Still Wary of Online Payments

Consumers Still Wary of Online Payments


A recent study conducted by Gemalto dubbed Digital Trust Barometer, found many Americans are still a bit wary of making online payments. The survey found that 38% of respondents do not trust online payments methods and despite purchasing various items online always feel a little worried about the process.

Apparently trustworthiness stayed close to home as 42% of respondents claimed that “friends and family provide the best security advice.” Specialized digital security companies followed with 27%. Banks were far less trusted, with only 7.6% of respondents saying the best security advice came from financial services providers.

The results of the survey become somewhat less surprising when you consider that nearly a quarter of those surveyed reported having been victims of bank data theft, according to Gemalto. The research firm also claims the amount of money lost to online fraud is on the rise. The April 2008 Internet Crime Complaint Center (IC3) Internet Crime Report found that even though there was a small drop in complaints filed last year, the total dollar loss has never been higher, at $239.09 million in 2007 versus $198.44 million in 2006.