Privacy – A Question of Balance

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The question has been building worldwide: How can individuals’ privacy be protected in the face of advancing mobile and online technology? When developing payment solutions, it is vital that banks and merchants employ “privacy by design” to ensure flexibility and compliance long-term, as well as offer payment options that consumers will trust. This infographic—based on recent First Data research—examines consumer attitudes toward data privacy.

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Privacy – A Question of Balance

  1. 1. A QuestionPrivacy: of Balance The question has been building worldwide: How can individuals’ privacy be protected in the face of advancing mobile and online technology? When developing payment solutions, it is vital that banks and merchants foster ‘privacy by design’ to ensure flexibility and compliance long-term, and offer a plethora of payment options that consumers will trust.Understand Deliver Clear Benefits Consumers are open to tools such as geo-specific ProveConsumer offers and discounts, but are wary of the underlying technologies like location tracking. TrustworthinessPerspective Education and safeguards will be required to integrate consumer perceptions and new 39%43% 44% NEUTRAL information-driven tools. 43% AGREE Interested in 19% 23% Geo-Tracking Consumer opinion is undecided in many areas Would like to receive 27% relating to the use of their information, giving banks and merchants an opportunity to special offers or develop solutions that prove their worth. coupons on phone 10% while near the store Would let company email them after38 35 18 a purchase % % % Consumers indicate they would want y Would Agree severe consequences for illegal use of r to Geo-Tracking Would share information about preferences and likes with retailer personal information, with more than half th Would let a saying the firm should be put out of e ailed. business or executives jailed. company track Would allow credit card info to be my location saved at website to speed purchases through mobile Attitudes & Policies." Chris Hoofnagle, Jennifer King, Su Li, Joseph g, April 14, 2010. phone for offers Company put out of business Executives jailed Company fund privacy protection efforts Government Action On the Horizon I In early 2012 th White House released a Consumer Privacy Bill of Rights calling l 2012, the W First Data Universal Commerce Tracker, April 2012 (Research conducted for First Data by on formalized polic It appears likely that both around the world and in the policy. Applied Research and Consulting LLC) © 2012 First Data Corporation. All Rights Reserved. United States that more robust consumer privacy measures will be adopted.

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