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Technology / AI and automation

PayPal is most trusted for mobile payments

Consumers in nine major markets are most likely to trust eBay-owned online payment system PayPal among other brands for mobile payment systems, according to a survey.

The survey by market research firm GfK found consumers were most likely to trust PayPal with personal financial data.

Google Checkout and credit card companies like American Express, Visa and MasterCard are PayPal’s competitors.

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Visa and MasterCard figured in as the next most trusted brands, the survey found, followed by Apple, Nokia and Samsung. Mobile operators were behind in the list.

"When we think of trust or security, we probably default to a brand that’s been around for a long time. In this case, people have put their trust in a very new company," GfK analyst and report author Ryan Garner told Reuters.

"Whilst financial brands have built up high levels of trust, mobile-based brands such as Nokia and Apple, and relatively new financial brands like PayPal, have the potential to disrupt this seemingly comfortable position," GfK said.

 


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.