The availability and convenience of electronic payments hinge on them being a secure method of exchanging money. For now, consumers are still willing to use these technologies, but retailers risk eroding trust in commercial institutions with their lack of security preparation.
Consumers expect the retail and payments industries to move forward together in developing safer, more secure technologies that will protect consumers from the intrusion and disturbance of fraud. Clearly, the data breaches of the past few years have made an impact on consumer attitudes, and they are becoming more vocal. Retailers must decide if they will heed this call and do the right thing by investing in the security we need today and the innovation of tomorrow.