NAPLES, Fla. — More than six in 10 U.S. adults are concerned with the security of their financial data when paying at fuel pumps and convenience stores, according to an online survey of 1,270 adults by YouGov and ACI Worldwide, a global provider of real-time electronic payment and banking products.
Of fuel and convenience survey respondents, 62% are concerned with the security of their financial data and 52% with the privacy of financial data. At 70%, baby boomers are more concerned about the security of their financial data than younger generations, the survey said.
“Skimming devices at gas pumps are frequently used to steal consumers’ financial data—hence the high level of concern with data security at gas pumps,” said Benny Tadele, vice president of merchant solutions for ACI Worldwide, Naples, Fla. “However, few consumers are aware that digital wallet payments are not only faster and easier, but they are generally more secure than traditional methods of payment.”
When it comes to the purchasing experience at fuel and convenience stores, 36% of respondents are only "somewhat satisfied" compared to 27% who are very satisfied with their overall payment experience, and 21% are neither satisfied nor dissatisfied. At 69%, more baby boomers are satisfied with their payment experience at gas pumps than younger generations, said the survey.
When asked which method of payment they prefer at fuel and c-stores, 55% of respondents said they prefer credit or debit card, while 21% prefer cash.
Regionally, Northeast respondents prefer credit and debit card payments the least at 47%, compared to 64% in the Midwest, 56% in the West and 52% in the South, said the survey. Respondents in the Northeast also prefer cash the most at 26%, compared to 18% in the Midwest, 22% in the West and 21% in the South.
ACI Worldwide powers electronic payments for more than 5,100 organizations around the world. More than 1,000 financial institutions and intermediaries, as well as thousands of global merchants, work with ACI. The company also provides real-time, immediate payments capabilities through its private cloud.
Based in London, YouGov is a market research and data analytics firm.