Consumers Want Innovative Security Measures at a Register

Consumers Want Innovative Security Measures at a Register

February 17, 2016         Written By Natalie Rutledge

Four out of every five consumers (82%) want to choose what sort of payment technology they can use at the register, according to a new study by Morning Consult.

The company surveyed 2,028 registered voters, and 75% said stores should move as quickly as possible to adopt new electronic payment forms that would protect payment information. The respondents also said stores should offer the payment types that customers consider secure (63%) instead of what the retailer wants to use (19%).

“The poll clearly shows that choice and security are customers’ priorities when making electronic payments. Consumers want diversity in payment options, which serves the dual purpose of giving customers what they want at the register and decreases the likelihood of security breaches,” said Molly Wilkinson, executive director of the Electronic Payments Coalition (EPC). “Retailers and the payments industry must work together to serve their customers’ best interests and protect their information—any push to mandate only one form of payment will not protect consumers from fraud.”

Other key findings include:

  • Most consumers are satisfied with their banks (81%) and credit card companies (76%)
  • The majority of survey respondents are satisfied with the security of their financial information at their bank (79%).
  • 86% of consumers said they are satisfied with the ease of credit card transactions. 77% believe these transactions are secure.
  • Nearly all respondents (90%) believe retailers should be held to the same security standards as banks and financial institutions.
  • 83% of consumers believe retailers should be adding more payment options for customers.


The information contained within this article was accurate as of February 17, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


natalierutledge

About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at natalie@lowcards.com
View all posts by Natalie Rutledge
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : 1.5% cash back on all purchases; $150 bonus after spending $500 in first 3 months
Featured No Annual Fee Card
Top Features : Earn cash back TWICE. 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : Perfect credit not required; Reports to major credit bureaus
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time