Economy July 25, 2016 | 4:32 pm

Expert: consumers make fewer card payments online on fear of attack

Santo Domingo.- The security of their personal data is amatter of vital importance to consumers, but especially of concern when itcomes to e-commerce, as the results of a global study by Deloitte reveal adecline in the percentage of consumers who regularly buy online and pay withcards.

According to the study ‘Consumer data under attack’ conductedin 2015, the growing threat of cybercrime sparked a decrease in percentage from88% to 72%.

“When it comes to the security of their personal dataconsumers are turning their view toward the companies which for three out offour consumers consider responsible for them to provide users the tools neededto protect their privacy. In fact, one of every three consumers cancel theiraccounts with online shops as a result of a cyber-attack, even if the securityof their data had not been affected,” Deloitte said in an emailed statement.

It said as a result of the study, experts from Deloittebelieve that it is critical that organizations redouble efforts to ensureconsumers the security of their personal data and that the entities involved inthe process of payment cards, update their knowledge to implement existingnorms and standards on the issue of data security.

"This is an issue that should be on the radar of anyindustry that manages or intervenes in the flow of payments with credit cards,”said Claudio Rodriguez, Partner of Deloitte Business Risk Dominican Republic Division.

“Companies must ensure that customer transactions areconducted in a secure environment, and it’s essential to have knowledge of thePCI DSS standard, not only to combat fraud that may materialize with cardholderdata, but to comply with safety requirements or validate that third-partycompanies that support them in the payment process comply with the requirementsrequired by the standard," the expert said.

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