Today In Data

Today In Data: TNS Survey Shows Customers’ Security Insecurities

According to a recent survey by Transaction Network Services (TNS), 85 percent of adults in the United States, United Kingdom and Australia believe fraud attempts on debit and credit cards are on the upswing.

The poll, which boasted more than 3,000 respondents, covered topics including customer expectations pertaining to credit and debit card data, tech-savviness of consumers, levels of data security protocols in place, perceptions of data security, how consumers are making payments based on perceptions of transaction safety and more.

In-store results of the TNS survey show less trust in in-person transactions than online transactions. Though in-store fraud attempts may be somewhat fewer in number compared to those that occur online, they tend to get more press and a heavier focus on cybersecurity failures. Accountability, according to Kent Kling, chief security officer at TNS, is key — from the customer to the acquiring banks.

Here are the numbers:

3,000 | Number of adults surveyed by TNS

70 percent | Percentage of respondents over age 45 who reported concerns about data security

59 percent | Percentage of respondents aged 18 to 24 who reported concerns about data security

50 percent | Number of companies that do not protect payment data from cybersecurity breaches, according to a recent Verizon study

38 percent | Percentage of respondents who believe their private information may have already been exposed in a data breach


Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.