Cardholders Interested in Safer Online Payments
| July 11, 2009 |
According to results of a recent survey by NYCE Payment Network, cardholders showed that they would make more purchases online if the card’s issuers and financial institution offered them a safer payment method than those used commonly today.
The survey in which around 2,600 consumers were polled gave researchers their reason for choosing the payment methods they use. As expected, their results found that the main issue cardholders have with shopping online deals with the security or their personal information. When asked if they would be interested in using a secure method if offered from their financial institution, the response from more than half surveyed was yes. In addition to payment options another piece of valuable information was gathered as well. It showed that cardholders aren’t exactly loyal to online payment options that they used in the past.
From the results and feedback from cardholders a market exists for financial institution to offer ways to offer consumers a secure payment option. What does this mean exactly? For the consumer, it could mean that in the very near future you will see other ways to make payments available to consumer other than pay-pal and other options. For the financial institution this could not only generate new revenue, but also strengthen their relationship with their customers.
You would think that a few of these issuers would create a joint venture to form a rival payment network to go up against paypal and Google checkout. I’m pretty sure they need the revenue, and these alternative payment methods are pretty popular.
Comment by Scott in USA — July 16, 2009 @ 12:00 am