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Consumers Consider Passwordless Logins Key to Overcoming All-in-One App Security Concerns
Given the proliferation of various apps, many consumers in the United States are eager for a more convenient way to manage their banking and shopping needs all within a single platform.
In fact, a joint PYMNTS-PayPal study shows that nearly 100 million individuals in the U.S. and Australia are interested in using an all-in-one finance and shopping app. In the U.S. alone, one-third of all consumers surveyed said they are highly interested in using an everyday app.
However, despite this strong desire for a convenient all-in-one everyday app, most Americans (55%) feel uneasy about the overall safety of these apps, especially when it comes to protecting their personal and financial information as they shop and bank online. In fact, 64% of consumers in the U.S. expressed reservations about an everyday app’s ability to safeguard sensitive personal data.
This concern is even higher among shopping-focused U.S. consumers, 67% of whom cited data security as a barrier to adopting an everyday app.