August 25, 2016The tension between consumers demanding a friction-free online experience and their fear of payment-card details being stolen and used fraudulently is highlighted in a new report from Auriemma Consulting Group. The New York City-based payments consultancy found—not entirely surprisingly—that willingness to use stronger authentication methods rises along with the value of an online purchase. Eighty-five percent of U.S. consumers polled agreed that security is more important than speed in the case of a $100 purchase. When making a $5 purchase, however, that drops to 70 percent, with 30 percent insisting the transaction be fast, “even if it means fewer security steps.” “The importance of security seems to fluctuate according to purchase amount,” said Jaclyn Holmes, senior manager for ACG. “In reality, the amount of the purchase has nothing to do with a fraudster’s ability to steal a consumer’s information, but consumers tend to care more about speed than security for smaller transactions.” Security vs. convenience also collides when shoppers consider one-click checkout. Nearly two-thirds of those surveyed said one-click checkout “makes the payment process more enjoyable,” while the same amount reported concern that one-click makes them more susceptible to fraud.