Payments

Consumer confidence in omnichannel payments is low, prefer in-store, Semafone survey reveals

May 21, 2021

Consumer confidence in the privacy and security of omnichannel payment tools such as social purchasing is low, according to a survey from Semafone, a data security and compliance solutions provider. Only 13% of respondents said they would use social media to complete a purchase and 56% said they won't give payment details over social media platforms, while 27% said they felt most secure making in-store purchases at big box retailers, according to a press release.

Almost 80% of customers 65 years and up said they wouldn't give payment details over social media and only 11% of those aged 25-34 said they regularly give those details.

When it came to online shopping, 47% of those aged 18-34 said they planned to shop on online marketplaces for upcoming events while only 22% of those 55 years and up said they would do the same.

"The mix between omnichannel and in-store shopping will become more balanced as consumers continue to shop online, but the security and comfort in making purchases over those channels needs to be addressed," Gary E. Barnett, CEO of Semafone, said in the release. "Brands need to educate customers on the steps they have taken to ensure consumer privacy and security measures within their overall marketing and awareness strategies as it is a critical component of retaining and attracting customers."