Digital wallet services are being promoted, in part, on the strength of the card brands behind them. But data shows that consumers do not place that much trust in the name on their card.
Just 32% of respondents in a survey from First Data Corp. and Market Strategies International said they would trust the financial institution that issued their card to keep their data secure in a mobile wallet, compared with 47% who trust PayPal Inc. and 59% who trust their primary bank. The card providers fared better than Google Inc. (23%), mobile phone carriers (22%), Apple Inc. (12%) and Facebook Inc. (8%).
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