Security or unfamiliarity: What’s stopping mobile-payments adoption?
Consumers over the years have shown they enjoy the convenience of digital banking and mobile payments. But, market surveys find time and time again that consumers remain uneasy about the security of their electronic transactions.
That, in turn, has put financial institutions and fintech companies in a quandary: How do they provide products with top-notch security while making it easy for consumers to use things such as mobile wallets and in-app payments?
That was one of many questions one panel at the recent Bank Customer Experience attempted to answer during a discussion about security and simplicity in electronic transactions.
For the panelists who participated in this discussion, they agreed consumers’ security concerns might be more about unfamiliarity with certain products more than anything else.continue reading »