Australia is concerned about data and payment security practices, PCI Pal's survey reveals

Wednesday 8 July 2020 12:36 CET | News

New research from PCI Pal, the global provider of secure payment solutions, has identified Australian consumers’ current concerns relating to data and payment security practices. 

The survey also reveals the potential impact this may have on businesses in the future, in the age of COVID-19. Almost 31% would avoid a business ‘for up to several years’ if their personal data is compromised due to poor data security practices during the pandemic, while 30% stated that they would ‘never return to the business’. Only 7% said ‘it wouldn’t impact’ their loyalty to the business.

53% of consumers felt the same level of concern regarding how businesses are handling their personal data now compared to before the pandemic, a significant 42% said they felt more concerned. When sharing payment information to businesses operating remotely, 8 out of 10 respondents expressed some level of concern with 26% stating they are ‘very concerned’ about how their personal data is being handled during the pandemic. 

When comparing the same research in the UK and US, American consumers are the most likely to say that since the coronavirus pandemic, they are now more concerned about companies handling their personal data securely (38.6%) versus 28% of respondents in the UK. When asked whether since the coronavirus pandemic they are concerned about sharing payment details to businesses operating from home, both US and UK consumers were as equally concerned with 76.8% and 75% (respectively) expressing concern – both marginally lower than 80% of respondents in Australia.

In the event of personal data being compromised as a result of poor data security practices during COVID-19, 30% of respondents in both Australia and the UK would never return to that business, compared to just 17% in America, who instead saw a majority (40%) saying they would avoid purchasing with the company for ‘several months’.

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Keywords: PCI Pal, Australia, data, payment security, coronavirus, pandemic, COVID-19, security, data privacy, payments , personal data, fraud
Categories: Fraud & Financial Crime
Countries: Australia
This article is part of category

Fraud & Financial Crime