Survey: Three in Four Trust Banks Most for Payment Security

2 November, 2015 (10:18) | Blog | By: admin

By ABA Banking Journal

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An overwhelming majority — 75 percent — of consumers trust their banks most to keep their payments safe, according to a recent ABA survey conducted by Ipsos Public Affairs.

Banks were by and large the most trusted entity, surpassing telecom companies (1 percent), major retailers (1 percent) and alternate payment providers like Paypal, Venmo and others (4 percent) by significant margins. Major retailers and alternate payment providers both experienced declines in consumer confidence from a previous survey conducted in 2014.

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