Thales Survey reveals 88% would stop using digital payments if breached
Over half (60%) currently use a digital payment service, including 74% of millennials
LAS VEGAS, Nevada – October 19, 2016 – Thales, a leader in critical information systems, cybersecurity and data protection, today announced in conjunction with Wakefield the results of its survey about Americans’ use of digital payment methods, as well as the perceived safety of those transactions. According to the survey, 88% of respondents reported they would discontinue using digital payments if they personally fell victim to cybercriminal activities as a result of a data breach. Respondents said that they would discontinue use of digital payments if:
- Money was stolen from a linked bank account – 70%
- Unauthorized charges appeared on a linked credit card account – 68%
- A username and password was stolen – 59%
- They experienced increased spam emails – 30%
In the past few years, digital payments have become faster, easier and more convenient for consumers, leading to an increased adoption of these services. The survey revealed that over half (60%) of respondents currently use a method of digital payment, with baby boomers (50%) lagging behind millennials (74%). The most popular digital payment method was PayPal, currently leveraged by 51% of survey respondents. The next most popular forms of digital payment are as follows:
- Apple Pay (11%)
- Google Wallet (7%)
- Android Pay (6%)
- Chase Pay (6%)
- Samsung Pay (5%)
- Venmo (3%)
Last, 40% of Americans do not feel safe using digital payments while traveling.
“It’s easy to see why mobile payments continue to grow in popularity – they are fast and convenient,” said Jose Diaz, director payment strategy at Thales eSecurity. “But results of the survey showed that people have strong doubts about their safety, especially while traveling. The mobile payments industry needs to take note that their future success is based on trust. And that trust can easily fail if they do not provide the strong protection of their infrastructure, transactions and data that customers expect.”
The Thales eSecurity Survey was conducted by Wakefield Research among 1,016 nationally representative U.S. adults ages 18+ in August 2016, using an email invitation and an online survey. Quotas have been set to ensure reliable and accurate representation of the U.S. adult population. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About Thales eSecurity
Thales eSecurity + Vormetric have combined to form the leading global data protection and digital trust management company. Together, we enable companies to compete confidently and quickly by securing data at-rest, in-motion, and in-use to effectively deliver secure and compliant solutions with the highest levels of management, speed and trust across physical, virtual, and cloud environments. By deploying our leading solutions and services, targeted attacks are thwarted and sensitive data risk exposure is reduced with the least business disruption and at the lowest life cycle cost. Thales eSecurity and Vormetric are part of Thales Group. www.thalesesecurity.com
Thales is a global technology leader for the Aerospace, Transport, Defence and Security markets. With 62,000 employees in 56 countries, Thales reported sales of €14 billion in 2015. With over 22,000 engineers and researchers, Thales has a unique capability to design and deploy equipment, systems and services to meet the most complex security requirements. Its exceptional international footprint allows it to work closely with its customers all over the world.
Positioned as a value-added systems integrator, equipment supplier and service provider, Thales is one of Europe’s leading players in the security market. The Group’s security teams work with government agencies, local authorities and enterprise customers to develop and deploy integrated, resilient solutions to protect citizens, sensitive data and critical infrastructure.
Thales offers world-class cryptographic capabilities and is a global leader in cybersecurity solutions for defence, government, critical infrastructure providers, telecom companies, industry and the financial services sector. With a value proposition addressing the entire data security chain, Thales offers a comprehensive range of services and solutions ranging from security consulting, data protection, digital trust management and design, development, integration, certification and security maintenance of cybersecured systems, to cyberthreat management, intrusion detection and security supervision through cybersecurity Operation Centres in France, the United Kingdom, The Netherlands and soon in Hong Kong.