Credit Cards Blog

Finance Blogs » Credit Cards » Plastic deters online buying?

Plastic deters online buying?

By Janna Herron ·
Tuesday, December 13, 2011
Posted: 4 pm ET

Have you ever sat at your computer, filling in your credit card info at a virtual checkout, and thought: "'Hmm, maybe I shouldn't send all this personal information over the Internet?'"

If so, you're not alone. A new survey commissioned by PaymentOne (executed by Javelin Strategy & Research) found that half of consumers abandoned an online purchase at checkout because of safety and privacy concerns.

Their top concerns? They worried that the retailer would send them junk mail or that their personal info would be sold to other retailers. Others fretted that nefarious people would either intercept the data or access information in the retailer's database.

The study found that 4 out of 5 consumers would spend more online if they were offered an easier and more secure way to pay. It also revealed that four times as many consumers think a direct carrier-billed mobile payment is more secure than using plastic online.

A direct carrier-billed mobile payment is when your cell phone carrier bills you for a purchase and it shows up on your monthly cell phone statement. It's similar to when you buy mobile apps. This type of transaction occurs without inputting any credit or debit card information.

Of course, the study comes from PaymentOne Corporation, which provides mobile payments and carrier billing and would have an interest in showing demand for those types of payments. But I think the survey touches on credit card security concerns in general from consumers, especially after a big year for data breaches.

Here are a few ways to gird yourself from virtual thieves.

  • Check your credit card activity regularly online to spot any unusual transactions.
  • Set up automatic alerts if your issuer offers them.
  • When you shop online, stick to established and familiar websites and retailers, and look for security seals on websites you're not sure about.
  • Last, if you think your credit card info has been compromised, contact your local police, issuer and credit reporting agencies.

Would you prefer mobile billed payments?

Follow me on Twitter: @JannaHerron.

Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
December 14, 2011 at 11:03 am

Not interested in Mobile billed payments. Why have your mobil carrier involved in a transaction? Make sure the sight you are transacting on is "https" and make sure you uncheck or do not check the box that says "...send me offers...". If they send you a bunch of junk, just label it spam and it should stop or be minimal. Besides, I'm a "rewards ho" and want to funnel as much as possible through rewards cards.