Speed is one of the key factors for global consumers when it comes to transactions, but as it turns out, the majority of consumers in the United Kingdom will take a secure transaction over a speedy one.
Only 2% of U.K. consumers value a faster transaction over its safety, according to the Consumer Trust and Mobile Payments Growth survey released today by payment authentication provider MYPINPAD.
However, 67% of the 400 respondents surveyed stated that they were “concerned” about the security of their online shopping and banking transactions, according to the survey, the second in a series released by MYPINPAD. Moreover, just over 60% of participants agreed that “information about data breaches and fraud has impacted their trust” when it comes too those online activities.
When it comes to methods of fraud prevention and authentication, the familiar PIN number remains quite a popular choice, with 40% of respondents stating that they would prefer to use a PIN to authenticate an online transaction.
However, most consumers would prefer to add a little something extra to the PIN, with 50% of consumers agreeing that they would like the “option” to combine the PIN with some type of biometric identifier to authenticate transactions.
Take a look at the full survey here.