Payment security ranks highly among consumers


September 18, 2013

Customers are becoming increasingly aware of how their personal data is being dealt with when they provide payment details over the phone, a new study has found.

Compiled by Syntec Telecom, the survey highlighted the need for PCI compliance as just one per cent of consumers believe the most secure means of making a payment is through call centre agents.

Chip and PIN recorded much better results, with 53 per cent of respondents considering this to be the most secure payment method.

Director at Syntec Telecom Simon Beeching emphasised that there is "no question" that card payments over the phone are one of the weaker links that companies need to get to grips with.

He noted: "Our research clearly shows that an increasing majority of consumers have serious concerns over card payments by phone.

"Consumers are now saying they will positively favour brands and call centres that can provide tangible reassurance over their card payment security."

Almost three-quarters (72 per cent) of respondents to the survey said that call centres need to do more to prevent card fraud, which represents a four per cent increase from 2012.

Further to this, 59 per cent of people said that the risk of fraud when providing card details over the phone has made them reluctant to make such payments.

Nevertheless, 43 per cent said they would be more likely to make purchases over the phone if companies were able to demonstrate more secure payment systems.

A number of changes to the Payment Card Industry Data Security Standard are set to be introduced in November, which will give companies greater flexibility in their approach to security.

Implementation of the standard was recognised as one of the biggest obstacles facing organisations, which the PCI Security Standards Council hopes these new regulations will help to address.

 

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