Consumers are reluctant to shop or bank online using a mobile device due to security concerns, a study by Unisys has revealed.
The research found that 78% of Australian consumers will not consider using a mobile device to shop or bank online.
More than half (59%) of the 13,296 consumers surveyed globally said they do not trust their mobile devices to provide a transaction that is secure.
According to Tim Kelleher, vice president of enterprise security at Unisys, the industry will have to make an effort to convince the public that mobile banking and shopping are adequately secure.
“There is a great deal of money to be made in mobile payments, but only when consumers believe that the security of the transaction meets or exceeds the freedom of using mobile devices,” Kelleher said.
Australia came in as the third most reluctant country to shop or bank, 7% higher than the global figure of 71%.
Kelleher said that consumers in the survey expected banks to supply a more secure transaction than telecom providers. While this may be good news for banks, it highlights what telecom providers must do moving forward.
“Banks must still find ways to work alongside telecom providers and retailers to leverage their innovation while educating consumers on the realities of mobile banking and payment security,” Kelleher said.
“Collectively, they must prove that conducting a financial transaction via a mobile device is as secure as doing so on a desktop computer or in front of a bank teller at a local branch.”
