Study: Consumers Want Retailers to Provide Safer Payment Choices

An overwhelming majority — 82 percent — of consumers feel they should have a choice about what type of payment technology they use to make retail purchases, according to a survey released today by the Electronic Payments Coalition. Three-fourths of those surveyed believe that retailers should be moving swiftly to adopt new technologies that would better protect consumer information and allow more options for accepting payments.

Respondents also agreed overwhelmingly — 90 percent — that retailers who experience data breaches should be held to the same standards as banks and financial institutions when it comes to protecting customer data. Sixty percent believe that a policy requiring retailers to inform customers of any data breaches would make their information more secure.