More than Half of Retailers Worldwide are Holding Back Payments Investments Due to Security Concerns
Principle findings of this study include:
- Nearly 95 percent (93%) of retailers believe consumers want a broader choice of payment tools.
- 75 percent of retailers see payments as a clear part of their business strategy.
- Nearly half (49%) of retailers have seen their payment costs increase in the past 18 months while 56 percent expect them to keep rising.
- The customer experience is king, with half (50%) of retailers citing it as their key expected driver of ROI on any increase to their payments investment.
- Security concerns (54%), maintaining existing legacy infrastructure (43%) and customer protection requirements (40%) were cited as the top obstacles in increasing payments investments.
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Survey Methodology
This digital survey was conducted online to key payment decision makers globally in the fourth quarter of 2014, providing a snapshot of payment perceptions among financial institutions, scheduled billing and payment taking organizations such as higher education, consumer finance and insurance, and merchant retailers.
Overall, this included a total 1,119 executive respondents across 15 industry sub verticals in 25 key global markets, resulting in over 144,000 separate data points on perceptions and expectations of payments among critical payment enablers globally.
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Media Contact:
dan.ring@aciworldwide.com
Source:
News Provided by Acquire Media