Threat Intelligence

7/3/2018
11:40 AM
50%
50%

Consumers Rank Security High in Payment Decisions

Security is a top priority when it comes to making decisions on payment methods and technologies.

In the list of considerations for how to pay for purchases, the security of the transaction method tops cash back and loyalty points for most consumers. That's the conclusion of a recent major payment industry study, reinforced by separate results from new private research.

The "2017 TSYS U.S. Consumer Payment Study," the latest annual version of research conducted by the payments provider, indicates that security is a top-of-mind issue for the majority of consumers. Regarding a question about moving to electronic wallets on smartphones, the study reports, "Consumers continue to be most interested in mobile features that allow them to instantly identify and stop unauthorized credit and debit transactions," with 80% reporting this as a reason for pursuing wallet apps. The ability to instantly see transactions was cited as another reason by nearly three-quarters (72%) of respondents. Both of these responses outpaced any convenience-related justifications for the new technology.

Security for new payment technology is in line with a response from TSYS's 2016 study that found when considering a new credit card, 74% of consumers ranked security and fraud protection as their priority, with 26% preferring rewards.

The survey on which the study was based also asked consumers about their comfort level with different authentication levels. Traditional passcode was the top response, with 69% stating their comfort with the method, but fingerprint authentication was close behind, at 63%.

For more, read here and here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Joe Stanganelli
50%
50%
Joe Stanganelli,
User Rank: Ninja
7/6/2018 | 11:34:48 AM
My own anecdotal evidence
I can speak to this personally.

I remember there was a VERY rare recording/album I wanted by a musical artist whose work is next-to-impossible to find. After months of searching (both online and IRL), I eventually came across a website that sold the artist's recording that I wanted -- a website for the music publisher with whom the artist worked.

Or so it purported to be. The website was in the Netherlands and looked pretty sloppily put together. I did not feel comfortable trusting my personal payment information on the site (I couldn't even be certain if the website was legit) -- so I simply went without.

In hindsight, the website was probably legit, but it still left a bad taste in my mouth.
White House Cybersecurity Strategy at a Crossroads
Kelly Jackson Higgins, Executive Editor at Dark Reading,  7/17/2018
The Fundamental Flaw in Security Awareness Programs
Ira Winkler, CISSP, President, Secure Mentem,  7/19/2018
Number of Retailers Impacted by Breaches Doubles
Ericka Chickowski, Contributing Writer, Dark Reading,  7/19/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: This comment is waiting for review by our moderators.
Current Issue
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-14500
PUBLISHED: 2018-07-22
joyplus-cms 1.6.0 has XSS via the manager/collect/collect_vod_zhuiju.php keyword parameter.
CVE-2018-14501
PUBLISHED: 2018-07-22
manager/admin_ajax.php in joyplus-cms 1.6.0 has SQL Injection, as demonstrated by crafted POST data beginning with an "m_id=1 AND SLEEP(5)" substring.
CVE-2018-14492
PUBLISHED: 2018-07-21
Tenda AC7 through V15.03.06.44_CN, AC9 through V15.03.05.19(6318)_CN, and AC10 through V15.03.06.23_CN devices have a Stack-based Buffer Overflow via a long limitSpeed or limitSpeedup parameter to an unspecified /goform URI.
CVE-2018-3770
PUBLISHED: 2018-07-20
A path traversal exists in markdown-pdf version <9.0.0 that allows a user to insert a malicious html code that can result in reading the local files.
CVE-2018-3771
PUBLISHED: 2018-07-20
An XSS in statics-server <= 0.0.9 can be used via injected iframe in the filename when statics-server displays directory index in the browser.