Making Payments Via Smartphones For Most Is A Bad Idea

Smartphone owners will use their devices for just about everything these days but not so much when it comes to making payments.

Avangate, a digital commerce solutions provider, says a survey of owners indicates that nearly half haven’t made a purchase with their smartphone.

The obvious reason is that four in ten worry about storing critical data on their phone for fear they’ll be lost, stolen or hacked.

Even 22 percent of consumers who have made payments digitally expressed the same anxiety.

It seems then that companies should do a better job in dealing with these worries since nine out of ten respondents say they’d rather pay electronically than by check.

Setting up automatic payments appears to be the answer with about 60 percent of respondents having already set up one or two recurring online payments.