August 24, 2016
Report: U.S. Consumers Say Merchants Dropping Ball on Card Security
Oct. 25, 2013
A new report found that while consumers are taking active steps to protect their financial information, merchants aren’t taking things nearly as seriously. According to a poll commissioned by identity verification technology provider Jumio and conducted by Harris Interactive, 44 percent of consumers have chosen not to sign the back of their payment card, leaving it blank or writing “see ID.” Nearly 90 percent of them, however, report that the majority of time they use the card to make a purchase, the merchant does not ask to see ID to verify the cardholder, which is what these consumers said they intended. A third of respondent also said they have successfully completed a purchase with another person’s credit or debit card.
“With millions of people facing serious issues of identity theft, consumers are now taking extra steps to create their own protection mechanisms so that other people cannot misuse their credit and bank cards,” said Marc Barach, chief marketing and strategy officer for Jumio. “Regardless of the explicit consumer demand, too many merchants are not taking the necessary actions to confirm that a person conducting a transaction is actually who they say they are.”
The survey also found that nearly a third of U.S. consumers would prefer to carry a digitized form of their official identification in their smartphone.