Better safe than sorry: views of the Hungarian public on the security of payment instruments
AbstractOur survey found that the Hungarian public considers bank cards to be the most secure electronic payment instrument. The positive perception of the bank card ranks immediately behind the perceived security of traditional payment instruments: the yellow cheque and cash. Nevertheless, one of the key findings of our article is that the less intensive use of state-of-the-art electronic payment instruments is not due primarily to security reasons, although such concerns may play a certain role, particularly in the case of online payment instruments. The sense of security in payment instruments relates mainly to familiarity and use. That is, consumers consider payment instruments they know and use to be safe, while lesser known and little used ones are perceived as less secure. Consequently, the use of cashless electronic payment instruments can be intensified mostly through the dissemination of information, which will elevate the sense of security in consumers as well. The majority of the population expects their own account keeping bank to convey information relating to payment instruments.
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Bibliographic InfoArticle provided by Magyar Nemzeti Bank (the central bank of Hungary) in its journal MNB Bulletin.
Volume (Year): 7 (2012)
Issue (Month): 3 (October)
security; public view; payments.;
Find related papers by JEL classification:
- D03 - Microeconomics - - General - - - Behavioral Microeconomics; Underlying Principles
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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