Consumers Concerned Retailers Not Doing Enough to Protect Financial Data

CUPERTINO, Calif.--(BUSINESS WIRE)--Solidcore® Systems, Inc. today announced the results of a consumer confidence survey linked to data security at retail locations. Solidcore surveyed more than 500 consumers nationwide about credit card use, and to gauge their privacy fears and buying habits when shopping at various retail stores. The survey illustrates that consumers are concerned retailers are not doing enough to protect their personal data, and that these consumers will evaluate the risk of data breach when deciding whether or not to use credit cards at retail locations.

An overwhelming majority of consumers (81 percent) believe that some retail locations are safer than others for using credit and debit cards, and most (74 percent) would not shop where they feel their financial or personal information may be at risk. Among the consumers polled, the greatest fear is that credit and debit card payment processing systems (also known as point of sale systems) may be vulnerable to fraud or data theft. Furthermore, a significant majority of respondents would feel safer if the retailer's point-of-sale (POS) system was certified by a trusted third-party.

Solidcore conducted this survey of more than 500 consumers from a variety of socio-economic demographics nationwide. Key findings include:

Majority of consumers worry retailers aren't doing enough to protect data — Among the chief concerns of consumers, 42 percent of respondents worry that POS systems are insecure or at risk of fraud, while only 4 percent worry their receipt will be stolen.

Consumers will not use credit or debit cards when retailers seem untrustworthy — 81 percent of consumers acknowledge that some retail locations are safer than others for using credit and debit cards, and 74 percent of consumers acknowledged they would never shop at a retail store they feel puts their information at risk. However, 21 percent said they would sometimes shop at a “risky” retailer.

POS security certification can alleviate consumer buying fears — 83 percent of respondents felt that an industry-standard certification of POS systems from a trusted third-party would make them feel more comfortable about shopping with the retailer. Currently no industry standard exists, but retailers working with Qualified Security Assessors (QSAs) to implement security solutions can gain a degree of confidence that permeates the organization.

“This study was conducted to better understand consumer confidence in light of the more than 500 large security breaches that have occurred this year alone, according to the ID Theft Resource Center,” said Anne Bonaparte, president and CEO of Solidcore. “Overwhelmingly, consumers are concerned with how retailers handle their personal information and are likely to take their business elsewhere if they feel their information is at risk. Retailers that are truly concerned with protecting their brand must begin to place the highest priority on securing store systems, starting with POS systems. This becomes even more important as retail shopping increases for the upcoming holiday season.”

About Solidcore

Solidcore is the leader in retail store system security, change audit and configuration control. Organizations worldwide trust Solidcore to detect and prevent unwanted change for improving IT compliance, security and availability. Solidcore easily automates PCI and SOX controls for compliance reporting, locks down critical systems to ensure only trusted applications run, and prevents change-related outages for improved service availability and accelerated ITIL adoption. Solidcore is headquartered in Cupertino, California. For more information, please visit www.solidcore.com.

Solidcore is a registered trademark of Solidcore Systems, Inc. in the United States and other countries. Solidcore S3 Control is a trademark of Solidcore Systems, Inc. All other product names, trademarks, and service marks mentioned herein are the property of their respective owners.

Release Summary:

Solidcore announced the results of a consumer confidence survey linked to data security at retail locations, which found consumers are concerned retailers are not doing enough to protect their personal data.

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consumers, financial data, retail, retailer, survey