Study shows fear of weakened security on new payment technology

A new study by the Ponemon Institute has revealed anxiety at the security of new payment systems, pressured by consumer demand, reports SC Magazine.

The figures come from the ‘Data Security in the Evolving Payments Ecosystem Study’, conducted by the Ponemon Institute. Nearly 70 percent of the 748 U.S-based IT, security, risk management, product development and other payment based professionals surveyed felt that the pressure to adopt new convenient payment systems could threaten the security of customers.  Ironically, as Payment Week notes, it’s the demand from the very customers at risk that prompts the rush to adopt new technology, with 53 percent of respondents stating that customer convenience was more important than security.

Study shows fear of weakened security on new payment technology