"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as there are numerous reports that retailers too often are not PCI-compliant, miss warning signs of breaches or use outdated systems.

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