Consumer Trust Report

More than £1.7m a day was lost to financial fraud across payment cards in the UK last year, with losses on card purchases made remotely comprising £1m of this daily figure. This news makes for uncomfortable reading and has inevitably had a negative impact on consumers’ trust in online banking and shopping.

To gain a better understanding of how news of rising online fraud and data breaches have impacted consumers’ use of mobile and online payments, MYPINPAD conducted a survey to ascertain what could be done to boost consumer confidence and trust in online transactions, specifically in terms of security and authentication.

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