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Four Times More Consumers Consider Mobile Payments Safer Than Credit Cards

Javelin Strategy & Research Consumer survey, commissioned by PaymentOne, also reveals more than $100 billion in annual lost revenue for online merchants who don’t offer payment alternatives
SAN JOSE, Calif. – December 13, 2011 - It’s hard to put a price tag on security and privacy, but a recent study of consumers’ online and mobile purchasing attitudes conducted by Javelin Strategy & Research and PaymentOne (www.paymentone.com) found 4 out of 5 consumers would spend more online if offered an easier and more secure way to pay. The survey also found that by a margin of almost 4 to 1, consumers believe direct carrier billed mobile payments are more secure than using credit and debit cards for online digital purchases.

How much more would consumers spend if they didn’t have to share their sensitive personal data or type in a long credit card number to complete their purchase? The Javelin survey finds that online merchants could add aggregated yearly revenue of $109.8 billion, simply by offering an alternative “no credit card required” way to pay at checkout.

Conducted this fall, the 2011 Consumer Payment Poll revealed that consumers have dramatic and growing concerns about the safety and privacy of using credit or debit cards for online transactions. More than half of consumers surveyed admitted to abandoning online purchases at check-out because of these concerns, confirming a huge loss in potential revenue for online merchants.

Majority of consumers would buy more if online payments were safer

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