Online shoppers trust their credit unions more than merchants when it comes to data security, according to a new survey.
In a poll of 62,000 online shoppers conducted by Bizrate Insights, 72% of respondents listed their credit union or bank when asked which company they most trust with their payment and personal information.
PayPal was the second most-trusted entity, named by 48.9% of respondents, followed by Amazon, which garnered 45.4% of responses. Apple was fourth, with 21% of responses.
Overall, 76% of online buyers say they're dissatisfied with the strength of credit card and personal information security among retailers. Across all generations and both genders, shoppers most trust their own financial institution with credit card data and personally identifiable information.
CUNA continues to elevate its advocacy efforts to protect credit unions and other financial institutions, as well as consumers' data, from ever-increasing data breaches by:
• Creating a Stop the Data Breaches website;
• Producing a video providing an overview of retailer data breaches; and
• Increasing communications to legislators and other stakeholders to press for stricter merchant security standards.
(Via News Now)