The survey had 500 debit cardholders as subjects, and it also found 46% of respondents think t they will experience card fraud in the next five years.
While most consider chip cards to be more secure than the traditional mag stripe, only 32% think that the introduction of chip cards has decreased the level of card fraud, while 58% say that EMV has had no impact.Only 38% say they have encountered two-factor authentication, but the great majority agree that there are some sites where they would prefer this safety measure. 70% say they would enable two-factor authentication for their online account if it were offered by their primary bank.
When asked about a hypothetical USD 100 purchase, 85% agreed that security is more important than speed. In the case of a USD 5 purchase, however, that drops to 70%, with 30% who want that transaction to be fast.
The study was conducted online among 500 debit card users in May 2016. Respondents were recruited from Instantly’s web panel, and fieldwork was conducted by Issues and Answers. The purpose of the research was not disclosed nor did respondents know the criteria for qualifying.
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