You only have to travel back a few years to a time when most consumers, upwards of 80 percent in many surveys conducted on the subject, were wary of giving up any kind of personal financial information during an online transaction. Apparently that was then and this is now.
A recent survey conducted by research and consulting firm Javelin Strategy & Research, claims four of five debit card users now say they would buy online without fear. If prompted to enter a personal identification number online by a trusted merchant, 80 percent of consumers say they would do it, according to the survey – a complete reversal of the number that claimed they would be wary just a few years ago.
According to the report, three ATM and debit card networks are now preparing to test a new PaySecure system from Acculynk (an online PIN-debit service provider), which lets consumers pay by entering a debit card number and personal identification number online.
In the Javelin Strategy & Research survey of 500 debit card users who shop online, 65 percent say they would feel safer shopping online with a system such as PaySecure, 63% say they would prefer using PaySecure to online payment service PayPal, and 48% say they would shop more often online if they could use a system like PaySecure.