Security important but most consumers prefer convenience

The fact convenience trumps security for most consumers when it comes to online shopping was one of the more alarming revelations to come out of the recent Future of Payments roundtable co-hosted by The Australian Financial Review and Braintree.

For founder and CEO of online beauty store Adore Beauty, Kate Morris, the level of concern people have about security at present is nothing compared to what it was when she began in 2000.

“People just assume that so long as your website looks legit, that you are all right.”

CEO and founder of online personal brand consultants Social Check, David Griffiths, believes consumers are in for a huge wake-up call when it comes to mobile security.

“These are web-enabled devices and we’ve got really no security on them whatsoever. We’ve got all our most intimate data on them, from our location to all our contacts to payment details, photographs of credit cards, yet we haven’t really seen a widespread security incident so far.”

According to Jason Williams, the founder of bitcoin merchant services platform Bitpos, security is almost falling to the wayside when it comes to online transactions and we are heading into dangerous territory.

To read more, please click on the link below…

Source: Security important but most consumers prefer convenience | afr.com