SWACHA Survey Reveals High Consumer Confidence in the Security of Electronic Payments as Cyber Security Awareness Month Begins

SWACHA Survey Reveals High Consumer Confidence in the Security of Electronic Payments as Cyber Security Awareness Month Begins

Source: www.pymnts.com

October is National Cyber Security Awareness Month and while all consumers are encouraged to protect themselves online, most show strong confidence in the security of their electronic payments according to a recent survey by Dallas-based SWACHA, one of the largest not-for profit regional electronic payments associations in the country.

According to SWACHA’s 2011 Consumer Insights Survey, 90 percent of consumers have never experienced a problem with electronic payments such as debit cards, credit cards or automatic online bill payment. Consumers also don’t expect to experience future problems as 72 percent reported they have absolutely no concerns about electronic payments.

“We encourage our members to ensure their systems include the most comprehensive security available, but we also encourage them to educate their customers on the safety measures they can take to protect themselves as well,” said Dennis Simmons, AAP, President and CEO of SWACHA. “It is great to see efforts such as Cyber Security Awareness Month helping educate the growing numbers of consumers who bank online.”

National Cyber Security Awareness Month was created in 2004 by the National Cyber Security Alliance (NCSA) to increase awareness of the importance of safe practices online to prevent phishing, identity theft and other cybercrimes.

The NCSA provides cyber security tips for those who not only use social media but also to those who bank, pay bills or make purchases online or through mobile devices. Americans are encouraged to install security software on all internet connected devices and to change internet passwords every two or three months. Passwords should be at least eight characters, contain both capital and lowercase letters and numerals, and should not be used for multiple websites. Social media users and gamers should also be aware of privacy settings, limit who can see their information, and never correspond or accept requests from someone you don’t know.

About the Survey

SWACHA’s online survey of 600 Texans was conducted in August 2011 by Decision Analyst with a confidence interval of 95 percent and a corresponding margin of error of +/- 4 percent. Only those respondents who identified themselves as the person responsible for paying household bills were permitted to complete the survey.

About SWACHA:

SWACHA-The Electronic Payments Resource®, is one of the largest not-for-profit regional payments associations in the country with approximately 1,100 members across the Southwest. SWACHA is the resource of choice for financial institutions and corporations in the areas of education, training, payments system risks and knowledge about electronic payments. For more information visit:

Web – www.swacha.org
Facebook –www.facebook.com/bringingpaymentstogether
Twitter – @SWACHA

About the National Cyber Security Alliance:

NCSA’s mission is to educate and therefore empower a digital society to use the Internet safely and securely at home, work, and school, protecting the technology individuals’ use, the networks they connect to, and our shared digital assets. NCSA builds strong public/private partnerships to create and implement broad reaching education and awareness efforts to empower users at home, work and school with the information they need to keep themselves, their organizations, their systems, and their sensitive information safe and secure online and encourage a culture of cyber security.

This is the second in a series of releases based on SWACHA’s 2011 Consumer Insights Survey.