August 24, 2016
PayPal: Global Consumers Still Concerned about Mobile Payments Security
July 14, 2014
Forty percent of consumers around the world do not make payments on mobile devices, a new survey found. PayPal recently polled 15,000 people in 15 countries about technology, time and how the two are related. While most people are looking toward technology to make their lives simpler, they are still concerned about the security of mobile payments.
A full 65 percent of consumers worldwide say they waste the most time at the post office, banks and stores—all places where mobile payments could solve this problem. But until they are convinced that the security of mobile payments is as good as being in the store or paying online, the nearly 60 percent that fear their payment information will be stolen will be unlikely to fully adopt mobile payments.
“The main takeaway [however,] is that we seem to be on the right track: the vast majority of the world agrees that technology should make things simpler, connected and faster, delivering more choices and opportunities,” said Christina Smedley, vice president of global brand and communications at PayPal. “The obstacles in the way, how to spend found time, and daily grievances vary significantly among countries, but it seems the world is ready for the People Economy we’re working so hard each day to power.”