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People afraid of mobile banking says Unisys
Posted on 11-Jun-2008 19:16. | Tags Filed under: News.

The mobile phone is practically universal, with more than 3.3 billion subscribers worldwide, yet 71 percent of all consumers surveyed in 14 countries will not consider using a mobile device to bank or shop online, according to a study released today by Unisys Corporation.

The research, conducted with the latest installment of the Unisys Security Index, also reveals that more than half of all respondents (59 percent) do not trust their mobile devices to provide a secure transaction. Moreover, only 9 percent currently use these devices to conduct transactions involving credit-card payments, money transfers and deposits.

Unisys surveyed 13,296 consumers worldwide in March 2008 about their mobile-device habits and how secure they feel when conducting online transactions. The results indicate a widespread apprehension about the security of mobile devices and their ability to protect pertinent information relayed in a financial transaction.

Consumers most reluctant to use a mobile device to bank or shop online include: France (86 percent); U.K. (79 percent); Australia (78 percent); Belgium and Italy (both at 77 percent); and U.S. (71 percent).

The highest percentage of people using a mobile phone or personal organizer to conduct financial transactions was found in Germany - 21%. U.K. respondents have the lowest percentage of consumers using mobile devices to bank or shop with only 1 percent.

At least half of all respondents in each country or region with the exception of New Zealand (45 percent) and Malaysia (49 percent) do not trust their mobile devices to provide a secure transaction.

The research also revealed most consumers generally perceive banks as having the best security for mobile transactions when compared to telecom providers and online retailers. However, trust of banks vary greatly from country to country; for example, Italian respondents are twice as likely (72 percent) to trust a bank to secure an online transaction via a mobile device as respondents in Malaysia (38 percent).

According to this research, consumers deem certain service providers better equipped to secure mobile transactions. In fact, in more than half of the 14 countries included in the study, under 10 percent of consumers trust a telecom provider or an online retailer over a bank to provide a secure transaction. Across the world, consumers overwhelmingly favor banks to provide adequate security for mobile transactions.

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