Third of Shoppers Don't Trust Retailers with Their Personal Information, Study Says
By: FierceRetailIT July 28, 2014
Shopper distrust following a series of retail data breaches is high - three in 10 shoppers say they don't trust retailers to protect personal and financial data against cyber criminals.
"Consumer distrust is exacerbated by the widely publicized retail data breaches over the past year," said Mike Braatz, senior vice president, payments risk management solutions, ACI Worldwide.
A majority, 58 percent, have greater trust in financial institutions, government agencies and law enforcement, than retailers. And just 55 percent think retailers use security systems that adequately protected data, according to a new study by ACI Worldwide and Aite Group.
It's a sentiment backed up by research, as there are numerous reports that retailers too often are not PCI-compliant, miss warning signs of breaches or use outdated systems.