77 percent of British consumers have worries about new payment methods

This week South Korea takes the first steps towards becoming a coinless society as shoppers will be handed pre-paid cards instead of change in a country-wide trial. If the trial is successful, bank officials will allow change to be transferred straight into the shoppers' bank accounts by next year. But a new report from global law firm Paul Hastings shows that security fears are preventing many British consumers embracing new payment technologies. The study of over 2,000 consumers finds 77 percent are worried about using new payment methods. The risk of fraud is cited as the main reason (59 percent)… [Continue Reading]