Compromised credit cards and associated data breaches continue to dominate the headlines. In fact, over the past two years (2014-2016), data breaches worldwide rose 46 percent from the year prior (2013), according to creditcard.com.
Source: panthermedia.net/Sergejs Rahunoks
New data from the Capital One Rewards Card Outlook underscores consumer concerns about this alarming rise in card-related fraud. More than 40 percent (42.3 percent) of respondents said superior fraud protection was the top or second most important feature when considering a new rewards card in 2017.
According to the Rewards Card Outlook:
- Nearly 40 percent (39.8 percent) of rewards card holders would rather keep their cards in a mobile wallet. Millennials are even more eager to adopt this technology (58 percent).
- Digital wallets are of particular importance since 39 percent of survey respondents thought they lost or misplaced their credit card this past year.
- Nearly 13 percent (12.9 percent) actually lost their credit card in 2016 and nearly 25 percent (24.1 percent) had to get a new credit card issued due to fraudulent activity.
