If you own a credit card, chances are you might just have engaged in the ever risky but simultaneously addictive act of online shopping. As more and more products and services become accessible via the touch of a button, consumer trends and behaviors are evolving as well.
However, with the perks and benefits of digital transactions, along come the potential dangers and threats too. As per a recent survey by Kaspersky Labs, around “60% of consumers are worried about online banking fraud.” This is no surprise with cyber crimes and fraud at an all time high.
Kapspersky Labs, which is a Russian cybersecurity firm states on it’s website, “True Cybersecurity does not just prevent cyber security incidents: it predicts, detects and responds to them – effectively, flexibly and reliably.”
The survey, which was conducted in 22 different countries and included 13,000 online shoppers also revealed that although there was a greater number of cryptocurrency options for consumers, the digital service was still the least popular among shoppers for online payments. There could be multiple reasons for this, the number one being an inherent lack of understanding of how a decentralized system works.
According to the firm, “People do not want to be left vulnerable and become potential victims of money vanishing from their accounts.” This is surprising because blockchain based currencies claim to protect user’s private information and their digital assets in a way that a traditional funds transfer service cannot.
However, statistics weren’t all bad as the survey shows a positive trend towards crypto adoption. It seems that out of the respondents 13 percent individuals were less wary of the cryptos and stated that they had used Bitcoin or others to make online purchases.
The survey also revealed exactly why decentralized and more secure methods of payments and data storage were fast becoming a necessity as almost 20 percent of the respondents stated that they noted their private banking data on their mobile phones and other devices in order to remember it. This is unfortunately extremely dangerous and can leave consumer’s personal info vulnerable to hackers and scammers.
Although a whopping 81 percent of respondents declared that they still prefer using traditional bank backed credit cards over cryptos to buy products online, the undeniable growth in crypto firms, ATMS and online merchants who accept the digital tokens as acceptable pay point to greater chances for crypto adoption in the future.