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Digital Identity, Security & Online Fraud

Payment security is the most important feature for digital channels

Wednesday 2 March 2016 | 12:22 PM CET

Payment security is a core area of concern for retailers, a recent research from ACI Worldwide unveils.

According to the study, although nearly four months have passed since the October 1 EMV liability deadline, the majority of respondents are not compliant. Of the retailers surveyed, only 8.5% indicated that they were already compliant and 14% are not prepared. 48% are prepared or somewhat prepared, but still have work to do and/or are still evaluating their options for EMV.

Findings unveil that payment security (72%), integrated loyalty options (71%) and seamless ordering (55%) were highlighted as the top three features that all respondents want their mobile app to deliver.

75% of respondents prioritize payment security as the most important feature of a mobile wallet offering, followed by integrated loyalty/rewards (55%) and mobile ordering (46%).

Although it was not surprising that 70% of all survey respondents cited online/domestic as the top channel their retailer sells through today, online shopping in-store (via a tablet or other device) ranked as the second most popular digital channel (45%), followed by online/international and cross border (44%) and mobile/in app (38%); social media payment has not been widely adopted yet, but remains a trend to watch (11%).

More: Link
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