Users want more security for mobile payments, PayPal survey finds

Most consumers agree that making an online payment is easy, but 40 percent don't take advantage of mobile payments, according to PayPal's latest study. One of the biggest hindrances? Security.

The e-commerce company surveyed 15,105 adults in 15 countries to see what people think about mobile payments and how much time they could save in a cashless society.

Analysis from Mobile Commerce Daily focuses on what PayPal discovered on consumer thoughts concerning the security of mobile payments. The article states that 57 percent of those surveyed cited theft as the major hesitation in using mobile payments.

According to the survey, 29 percent of Americans worry about data sharing online, while the global average is 59 percent. Mobile Commerce Daily quotes the senior director of global initiatives at PayPal, Anuj Nayar, as saying that this "shows how accustomed Americans have grown to the layers of security and the buyer protection companies like PayPal and others have built into the e-commerce experience."

On the other hand, 85 percent of those surveyed would feel safer if they didn't have to carry cash, and 50 percent wouldn't fear theft as much.

Consumers in the U.S. may be the least afraid of information theft, but global statistics still say that consumers won't fully embrace mobile payments until they are sure their account details are safe.

For more:
- check out the PayPal survey results
- see the Mobile Commerce Daily article

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