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BizReport : Ecommerce archives : July 10, 2015

Survey: 2/3rds consumers concerned about financial data

No one wants to have their identity stolen or to have sensitive financial data leaked. And according to a new Mastercard survey, most consumers would prefer to have their naked pictures leaked (55%) than their financial data.

by Kristina Knight

Keeping personal information private is a new trend among the consumer base. New data out from Mastercard suggests most (69%) of consumers use or plan to use the new chip-based credit cards while about half (56%) report they're using or play to use mobile payment options.

When it comes to actually protecting their data, though, there is a disconnect - 92% of consumers say they 'take precautions' to protect their data but less than half (46%) change their passwords regularly. Nearly half (44%) also say they use the same password for multiple accounts.

"Our survey reveals there's a sharp contrast between what people say or think they are doing to protect their information and what they actually do, but that's understandable - we're human," said Carolyn Balfany, SVP of U.S. Product Delivery - EMV, MasterCard. "In today's digital age, we need the strong combination of what we all can do ourselves to keep our information as safe as possible and what we are doing at MasterCard to bring the latest innovations in safety and security to our cardholders."

Robert Siciliano, Identity Theft and Personal Security Expert added, "Today's digital lifestyle means consumer concerns for online safety and security trumps physical security as a close second. It's great that consumers have heightened awareness, but while they may understand personal responsibility they still want to feel protected by the institutions who are also responsible for protecting their data."

Other interesting findings from the report include:

• 48% say they are 'the most responsible' for protecting private data
• 88% say they've heard of tap-and-go/contactless payment options
• 45% of Millennials say they don't believe the chance of data hacks will increase over the next 3 years
• 58% of Gen X and 61% of Baby Boomers agree

Image via Shutterstock

Tags: ecommerce, ecommerce fraud, ecommerce trends, MasterCard, mobile payments

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