LIVONIA, Mich. — Most consumers who pay for restaurant meals with a credit or debit card have told surveyors that they would be fine with conducting their card transaction themselves at the table rather than giving their card to a server to run.
Conducted by a research firm called Market Strategies Inc. the survey of 1,000 cardholding consumers found that 85% of them would conduct their card transactions at the table to help forestall the risk of fraud.
"Initially," noted Mark Willard, senior vice president and head of MSI's Financial Services division, "we were surprised that the number was this high. However, we believe that this finding signals a strong and real shift in consumer sentiment about how financial services companies must find new and effective means to address their customers' security concerns."
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Willard added, "Consumers are telling us in no uncertain terms that security concerns are deep seated and peace of mind is so critical to them that they will forego traditional payment systems in exchange for the added security offered through such options as Pay-At-The-Table." While Pay-At-The-Table systems were originally designed to enhance the speed of customer transactions, MSI's study reveals that consumers now recognize its usability in delivering an emotional benefit of added security. "As is often the case with new products," commented Willard, "there is now an opportunity to fully leverage Pay-At-The-Table systems since its intended end use of speed has been expanded to provide much sought after security."
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