Bizrate Insights finds consumers lack trust their data will be safe with online retailers, IPs
Three out of four online buyers are dissatisfied with the strength of credit card and personal information security among retailers
Los Angeles, Calif. – December 15, 2014 –– Bizrate Insights, a division of Connexity (formerly Shopzilla), found in a survey of over 6,200 online buyers, a considerable lack of trust around credit card and personal information security among even the biggest online retailers and internet technology providers.
Bizrate Insights found that three out of four (76%) online buyers are dissatisfied with the strength of credit card and personal information security among retailers. Across all generations and both genders, a shopper’s own bank is trusted the most with credit card data and personally identifiable information – some 72% of all respondents. Some details from the survey results:
Which of the following companies do you trust with your payment and personal information?
Among the other finding of interest:
- Men are far more likely than women to trust Google and eBay.
- Generation Y is most trusting of their bank, Paypal and Amazon – with > 50% of Generation Y trusting each.
- Generation X has > 50% trusting their bank and Paypal.
- The only entity earning trust from at least 50% of Boomers and Seniors is their bank.
- American Express garners substantially more trust from older generations than from younger generations.
- Apple, eBay and Google are more likely to be trusted by younger generations.
“Among these tech transactional titans, it is those that have low barriers for usage and that have put consumer protection in the forefront, that have earned the greatest amount of trust,” says Hayley Silver, VP of Bizrate Insights, a division of Connexity. “Paypal ranking number two, and with greater than 50% trust from the younger generations, could be a ‘Major Opportunity’ that deserves more investigation among its customer base. With low barriers to usage and such high levels of trust, PayPal could make a strong case to add a wallet-less payment option to its arsenal.”
About the Study
The Bizrate Insights Payment Security Study #1 was conducted via the Bizrate Insights survey platform and offered to online buyers immediately after purchasing from the Bizrate Insights Network of over 5,000 e-commerce retailers in the US and Canada. Data from the study was collected from 6,256 online buyers from October 23 – 28, 2014.
For over 16 years, Bizrate Insights has helped retailers listen to their customers in a way that is fast and measurable, resulting in insights, action, conversation, and customer loyalty. The Bizrate Insights customer feedback and ratings platform allows retailers to collect seller ratings directly from verified customers.
Standard ratings are published across the leading comparison shopping site, Bizrate.com, and syndicated across the web’s largest search engines to help drive conversion and traffic. Collecting over 26 million surveys annually, Bizrate Insights is one of the largest sources of consumer-generated review content in the world, delivering actionable insights and valuable shopper data to key decision makers in e-commerce. Bizrate Insights is used by over 40% of Internet Retailer Top 500 retailers, as well as thousands of smaller boutiques.