"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as there are numerous reports that retailers too often are not PCI-compliant, miss warning signs of breaches or use outdated systems.
Timely, incisive articles delivered directly to your inbox.