Security Concerns Stalling In-app Payment, Skrill Study Finds

By David Murphy

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While the majority of shoppers are happy to store debit or credit card details with online sites, many are still yet to make the leap to storing payment details within mobile apps.
That’s the key finding of a survey of 2,000 UK adults commissioned by digital payment company Skrill.

The study found that only 14 per cent of people are currently choosing to buy goods and services via apps linked to their credit or debit cards stored online. One of the main hurdles for in-app purchasing is that people remain concerned about security. 30 per cent of those polled who don’t use apps that store their card details worry that their personal details could be stolen.

Despite this, figures from Juniper Research suggest that mobile phone and tablet users will carry out 195bn mobile transactions annually by 2019, up from 72bn this year. For those that are using in-app purchasing, the biggest advantage is seen to be not having to re-enter card details for every purchase (26 per cent). A further 22 per cent of respondents said that the speed and convenience of in-app transactions were the most important benefits.

“Over time, consumers have become comfortable paying for goods online,” said …read more

Source:: Mobile App News