PayPal, Apple Pay or Google Pay? What is the safest and most private digital portfolio? – a job
It is increasingly common to use a smartphone or smart watch to push goods and services, with ease of touching the equipment at the station to complete the transactions. According to a study conducted by consumer reports, The use of digital portfolios is still growing and in the United States 29 % of citizens are already using this payment format, at least once a week.
“Although this digital transformation provides increased comfort and access, it also has unique challenges and opportunities for financial inclusionThe report highlights. The analysis was performed in an assessment of a counterpart (P2P), buying now, paying after (BNPL on English) and banking applications. Standards such as safety, privacy, transparency, user concentration, financial support and inclusion were seen.
Six digital portfolios have been analyzed regarding applications, websites and features: Apple, Google, Cash, PayPal, Samsung and Venmo. the The report says that each company provides a set of specific services and features, but all have the ability to make payments without contact and transfer P2P except for Google.
See in the exhibition dozens of services:
The study indicates that digital portfolios use safety measures to protect users and transactions. However, not all applications require users to ratify when consulting sensitive information, payment or transfers. You The researchers say that the approach to monitoring fraud and responsibility differs between companies, so it is not always clear to consumers.
Most companies are also said to not commit data reduction. “Due to the nature of the services provided, the digital portfolios have a reason to collect sensitive information, use and share sensitive information, such as identity data and social and financial security numbers“Consumer reports believe that companies that provide these services, such as digital portfolios, must adhere to the principles of data reduction. Everything else must be limited to correcting errors or conducting internal investigations to improve customer experience. In this case, most companies that were evaluated do not agree with this requirement.
Another conclusion is that there is an opportunity to improve the application technology to make users more simply control your data and share information. Companies are referred to as very transparent about the various features provided in applications, whether it is legal documents and the application store. However, consumer reports indicate that companies should improve communication with the risk of using their services.
Applied rates of transfers are clearly displayed in the transaction process. But it should appear more prominent throughout the process. and Although all companies offer ways to contact customer support, they should be more transparent in time that takes time to solve problems.
Most companies promote additional services in their applications, which although they are not mandatory, are a way to capture more sales sales. The study also indicates that all companies ask users to agree to the conditions they consider unfair to access services. On the other hand, the applications are only the basics to support users in managing and tracking their spending, and a failure to advise financial health to their accounts.
Full study can be consulted on a page Consumer reports.
