Consumer confidence in payment safety continues to slip
It wasn’t too long ago that credit breaches at major retailers sent shockwaves through the industry – and rocked consumer confidence in credit and debit in the process. In the 2014 Payment Safety Study, we found that only about 39 percent of consumers were “very confident” that using a credit or debit card at their primary grocery store was safe.
How do consumers feel now? We asked more than 1,300 shoppers about:
- Confidence in using credit and debit cards for retail purchases
- Changes in their payment methods and other methods they’ve switched to
- Interest in mobile payments
The results showed us that consumer confidence in credit and debit are trending down slightly, that cash is most shoppers’ backup payment choice and that interest in mobile payments is a lot lower that you might think.
Find out what shoppers – by age and location – think about various payment methods and how these trends can affect your business in the payment safety study.