Most consumers refuse to conduct financial transactions on mobile devices

11 June 2008

The cell phone is practically universal, with more than 3.3 billion subscribers worldwide, yet 71  per cent of all consumers surveyed in 14 countries will not consider using a mobile device to bank or shop online, according to a study released today by Unisys Corporation.

The research, conducted with the latest installment of the Unisys Security Index, also reveals that more than half of all respondents (59 per cent) do not trust their mobile devices to provide a secure transaction. Moreover, only 9  per cent currently use these devices to conduct transactions involving credit-card payments, money transfers and deposits.

Unisys surveyed 13,296 consumers in 14 countries in March 2008 about their mobile-device habits and how secure they feel when conducting online transactions. The results indicate a widespread apprehension about the security of mobile devices and their ability to protect pertinent information relayed in a financial transaction.

The Unisys Security Index is an ongoing study that provides insights into the attitudes of global consumers on a wide range of security related issues. The study measures consumer perceptions on a scale of zero to 300, with 300 representing the highest level of perceived anxiety. The index includes consumers' opinions from Australia, Belgium, Brazil, France, Germany, Holland, Hong Kong, Italy, New Zealand, Malaysia, Singapore, Spain, the United Kingdom and United States.

Highlights:
Consumers most reluctant to use a mobile device to bank or shop online include: France (86  per cent ); U.K. (79  per cent ); Australia (78 per cent ); Belgium and Italy (both at 77  per cent ); and US (71 per cent).

21  per cent of German respondents currently use a mobile phone or personal organizer to conduct financial transactions, representing the highest  per cent age of any country or region included in the survey. UK respondents have the lowest per cent age of consumers using mobile devices to bank or shop (1 per cent ).