Three Reasons You Should Never Save Payment Information Online
While a recent survey by Bankrate.com found that 64% of US adults with a credit and/or debit card have saved their payment card data on websites or in mobile apps, there are at least three reasons why it is better to avoid doing this.
- It greatly increases the chances of your payment card information getting leaked or stolen by threat actors. Quite some Americans seem to realize this, since just 8% of respondents in the survey said that saving payment card data online is really safe and 44% suggested that it is somewhat safe.
- It makes impulse purchases more likely. 39% of survey respondents made an impulse purchase in the past month, including 20% who did so in the past week alone.
- It puts you at risk of paying for “free trails” because you forget to cancel them on time. This is exactly what happened to 59% of respondents who signed up for a free trial.