Six in Ten U.S. Adults are Concerned with Data Security at Fuel Pumps and Convenience Stores
April 15 2019 - 8:00AM
Business Wire
Despite safety of digital wallets, only seven
percent of Americans prefer to use a mobile app for payments
Over six in ten (62%) U.S. adults are concerned with the
security of their financial data when paying at fuel pumps and
convenience stores, according to an online survey of 1,270 adults
by YouGov and ACI Worldwide (NASDAQ: ACIW), a leading global
provider of real-time electronic payment and
banking solutions. The study, which surveyed shopping and
payment habits of Americans at grocery stores and fuel and
convenience stores, also noted that few respondents (7%) prefer to
pay with a mobile app at fuel and convenience stores. Yet, of those
who have used a mobile app (10%), four in five (83%) are satisfied
with their experience – in terms of speed and convenience.
“Skimming devices at gas pumps are frequently used to steal
consumers’ financial data, hence the high level of concern with
data security at gas pumps,” said Benny Tadele, vice president,
Merchant Solutions, ACI Worldwide. “However, few consumers are
aware that digital wallet payments are not only faster and easier,
but they are generally more secure than traditional methods of
payment.”
Other key findings and trends
include:
Fuel & Convenience
- Mobile & Digital Payments
- When it comes to digital payments at
the gas pump and/or convenience stores, 62 percent of respondents
are concerned with the security of their financial data and 52
percent with the privacy of financial data
- Baby Boomers (70%) are more concerned
about the security of their financial data than the younger
generations
- Payment experience:
- When it comes to the purchasing
experience at fuel and convenience stores, more respondents (36%)
are only ‘somewhat satisfied’ compared to those who are very
satisfied (27%) with their overall payment experience, and 21
percent are neither satisfied nor dissatisfied
- More Baby Boomers (69%) are satisfied
with their payment experience at gas pumps than the younger
generations
- When asked which method of payment is
preferred at fuel and convenience stores, 55 percent prefer
credit/debit card and 21 percent prefer cash
- Regionally, Northeast respondents
prefer credit/debit card the least (47%) compared to the Midwest
(64%), the West (56%) and the South (52%)
- In addition, the Northeast prefers cash
the most (26%) compared to the Midwest (18%), the West (22%) and
the South (21%)
Grocery Store
- Digital Payments
- 86 percent of grocery shoppers say the
store they most often visit offers a standard cashier as a payment
option, and 60 percent shop at stores that offer
self-checkout/unmanned kiosk as a payment option.
- Only 19 percent of respondents shop at
stores that offer a digital wallet payment option and 18 percent
shop at stores that offer a self-managed mobile app or scanning
option for checkout
- Shopping Experience:
- Nearly nine in 10 (87%) Americans
grocery shop in-store, while 14 percent order online with home
delivery, and 12 percent order online with in-store pick up
- Fewer Millennials (79%) than Gen Xers
(86%) say they shop in-store; in contrast, Millennials are more
likely than Gen Xers to order online and pick up in-store (17% and
13% respectively)
- While ‘better prices’ was the most
common item grocery shoppers said would improve their shopping
experience, faster checkout/payment process (39%) and more checkout
lanes/kiosk options (39%) were tied for second
- More Millennials (43%) than Gen Xers
(39%) and Baby Boomers (37%) desire a fast checkout/payment
process
“As Gen Z continues to gain purchasing power, retailers and
merchants need to consider offering digital wallet payments as an
option or be left out,” Tadele continued. “By addressing security
through tokenization, point-to-point encryption and fraud
prevention and detection tools, merchants are increasing consumers’
confidence in using these convenient channels of payment.”
MethodologyAll figures, unless otherwise stated, are from
YouGov Plc. Total sample size was 1,270 adults. Fieldwork was
undertaken between March 12-13, 2019. The survey was carried out
online. The figures have been weighted and are representative of
all US adults (aged 18+). Generations were defined as follows:
Millennial (born 1982-1999, 343 total), Gen X (born 1965-1981, 350
total), and Baby Boomer (born 1946-1964, 439 total).
About ACI WorldwideACI Worldwide, the Universal
Payments (UP) company, powers electronic
payments for more than 5,100 organizations around the world.
More than 1,000 of the largest financial institutions and
intermediaries, as well as thousands of global
merchants, rely on ACI to execute $14 trillion each day in
payments and securities. In addition, myriad organizations utilize
our electronic bill presentment and payment services.
Through our comprehensive suite of software solutions delivered on
customers’ premises or through ACI’s private cloud, we provide
real-time, immediate payments capabilities and enable the
industry’s most complete omni-channel
payments experience. To learn more about ACI, please
visit www.aciworldwide.com. You can also find us on
Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2019ACI, ACI Worldwide, the ACI
logo, ACI Universal Payments, UP, the UP logo and all ACI
product/solution names are trademarks or registered trademarks of
ACI Worldwide, Inc., or one of its subsidiaries, in the United
States, other countries or both. Other parties' trademarks
referenced are the property of their respective owners.
Product roadmaps are for informational purposes only and may not
be incorporated into a contract or agreement. The development
release and timing of future product releases remains at ACI’s sole
discretion. ACI is providing the following information in
accordance with ACI's standard product communication policies. Any
resulting features, functionality, and enhancements or timing of
release of such features, functionality, and enhancements are at
the sole discretion of ACI and may be modified without notice. All
product roadmap or other similar information does not represent a
commitment to deliver any material, code, or functionality, and
should not be relied upon in making a purchasing decision.
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version on businesswire.com: https://www.businesswire.com/news/home/20190415005418/en/
Dan RingE-mail: dan.ring@aciworldwide.comPhone:
781-370-3600Nidhi AlbertiE-mail:
nidhi.alberti@aciworldwide.comPhone: 781-370-3600
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