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BizReport : Ecommerce archives : August 11, 2011

Few would trust Facebook with mobile payments

Consumers are more comfortable using payment processing brands they are familiar with for mobile payments rather than those they associate with online and mobile technology.

by Helen Leggatt

When Ogilvy & Mather asked 500 online Americans which brands they would trust with their mobile payments the vast majority named familiar financial brands such as Visa (39.6%), Mastercard (35.9%), American Express (35.8%) and PayPal (34.3%).

Meanwhile other well-known brands not associated with financial services, such as Apple (22.9%), Microsoft (22.3%) and Google (19.5%), were not viewed with as much trust.

Martin Lange, creator of the survey and executive marketing director and worldwide head of mobile at Ogilvy & Mather told AdAge that smaller tech brands partner with those most-trusted brands and use that partnership to bolster their mobile payment offerings.

So who was bottom of the mobile payments processing rankings? Despite is social networking prowess Facebook was the least-trusted brand with just 12% of respondents expressing trust.

Just this week Visa revealed plans to encourage retailers in the US to adopt checkout systems that let consumers pay using their mobile phones.

Tags: consumer insight, credit card, mobile payments, trust, Visa

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  • I imagine people are still hesitant to use Facebook to shop online because of privacy concerns. Big online retailers have proven to shoppers that their money and credit card information is safe. Facebook hasn't been in the game long enough to do that.



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