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Payment security a big concern across generations

December 15, 2011

The threat of fraud during online credit card processing is a major concern to shoppers across generations, according to a recent survey.

The threat of fraud during online credit card processing is a major concern to shoppers across generations, according to a recent survey.

The “Mobile Payments and Online Shopping Survey,” conducted by ThreatMetric and The Ponemon Institute, revealed that 77 percent of Baby Boomers, aged 55 or older, and 62 percent of Millennials, people between the ages of 18 and 25, were worried about having information stolen while shopping on the internet.

Those who helped conduct the study said that the older generation was more wary about online merchant services because it was still a relatively new advent for them. Yet, the younger generation was still concerned about the right security measures being put into effect.   

“It’s interesting to note that while the younger generation is less concerned about online fraud in general, when they do question the fraud prevention measures of an online merchant, they say it adversely influences their experience with that particular brand,” said Bert Rankin, vice president of marketing, ThreatMetrix.

Merchants can make sure that all data is properly maintained by complying with the Payment Card Industry standards, which details ways security measures should be implemented.

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