A survey revealed that too many online security hurdles are keeping 42 percent of millennials from engaging in more online transactions.
The survey involved 5,500 consumers across several countries, which was intended to learn their attitudes about risk and security practices.
Meanwhile, only 30 percent of those 35 and older expressed the same sentiment.
"This is a new area of competition among companies--that of being able to make the onlinetransactions secure, without requiring any additional action from customers," said AugustoBeato, CEO of Portland SEO.
"The key is on being able to ease the burden of transacting online, especially for millennials whomake a big deal out of it," Beato added.
Information services company Experian noted that retailers and other e-commerce companies must make the process as streamlined as possible or risk losing them as customers.
Experian analyzes factors such as devices people use and how they gesture on their phones orclick on their laptops to help authenticate and identify individuals without putting the onus on them.
Stephanie Ericksen, vice president of identity and risk products at Visa, said the results of the study were consistent with what Visa has been hearing from its costumers, online retailers, and bank partners.
“We also believe that while non-millennials may be less averse to additional security hurdles,everyone appreciates a streamlined checkout process,” she said.
“Millennials and younger consumers are pushing the envelope on how frictionless they want e-commerce and online shopping to be—make it as frictionless as possible, but still embed the type of purchasing signals the consumer would need to see,” said Ed Kennedy, senior director of commerce at software company Episerver. “This is why pay options like PayPal and ApplePay get so much uptake.”
SOURCE: Press Advantage [Link]
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