Better safe than sorry: views of the Hungarian public on the security of payment instruments

Éva Divéki and Dániel Listár ()
Additional contact information
Dániel Listár: Magyar Nemzeti Bank (central bank of Hungary)

MNB Bulletin (discontinued), 2012, vol. 7, issue 3, 7-27

Abstract: Our survey found that the Hungarian public considers bank cards to be the most secure electronic payment instrument. The positive perception of the bank card ranks immediately behind the perceived security of traditional payment instruments: the yellow cheque and cash. Nevertheless, one of the key findings of our article is that the less intensive use of state-of-the-art electronic payment instruments is not due primarily to security reasons, although such concerns may play a certain role, particularly in the case of online payment instruments. The sense of security in payment instruments relates mainly to familiarity and use. That is, consumers consider payment instruments they know and use to be safe, while lesser known and little used ones are perceived as less secure. Consequently, the use of cashless electronic payment instruments can be intensified mostly through the dissemination of information, which will elevate the sense of security in consumers as well. The majority of the population expects their own account keeping bank to convey information relating to payment instruments.

Keywords: security; public view; payments. (search for similar items in EconPapers)
JEL-codes: D03 D14 D83 G21 O33 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.mnb.hu/letoltes/diveki-listar-eng.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mnb:bullet:v:7:y:2012:i:3:p:7-27

Access Statistics for this article

More articles in MNB Bulletin (discontinued) from Magyar Nemzeti Bank (Central Bank of Hungary) Contact information at EDIRC.
Bibliographic data for series maintained by Maja Bajcsy ( this e-mail address is bad, please contact ).