Majorities of Americans Find Current Credit and Debit Card Payment Networks to Be Efficient, Secure and Trustworthy

New York, NY - Majorities of adults find the current credit and debit card payment networks to be efficient, trustworthy, and secure according to a new poll of over 1,000 adults conducted by Ipsos Public Affairs on behalf of the American Bankers Association. Specifically, nearly three quarters (73%) agree that through the credit and debit payment system transactions are processed seamlessly and efficiently. Similarly, more than six-in-ten feel that the current payment system is one they can trust (65%), and that their privacy and security are protected in this system (61%) . Moreover, eight in ten (80%) believe that credit card companies provide protection and security to their customers when it comes to their personal and financial information.

• While nearly a third of adults (31%) report that they have been a victim of credit card fraud, among those who have been victims of credit card fraud, nearly all (94%) say that they were either fully or partially reimbursed for their losses.
• Moreover, more than nine-in-ten credit card users (92%) say that they have either never or only occasionally had a technical problem in which they were told that their transaction could not be processed when checking out.

Receptivity to a New Payment System

Respondents were shown the following statement: "While the credit and debit payment system is currently run by banks and payment networks, there has been some discussion about companies like Google, Apple or Wal-Mart getting into the credit business and establishing their own, separate payment system - similar to the current credit and debit payment system".

When asked to imagine what the system might look like, a slim majority said this new type of payment system would provide seamless and efficient transactions (55%), while minorities agreed that their security and privacy would be protected (48%), and that this new network would be trustworthy (43%).

Regulating the New System

A strong majority of adults indicated they would want these new systems to be subject to the same types of oversight and regulation as credit card companies. Three quarters (76%) agree that all companies processing payments in this new system should be subject to robust oversight to address cyber security, privacy and operational concerns similar to credit card companies. Likewise, 70% agree that all processed payments should be subject to government oversight and rules just as credit card companies are, which ensure integrity, security and convenience is maintained.

These are some of the findings of an Ipsos poll conducted February 28 - March 4, 2013. For the survey, a national sample of 1,009 adults aged 18 and older from Ipsos' U.S. online panel were interviewed online. Weighting was then employed to balance demographics and ensure that the sample's composition reflects that of the U.S. adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of 1,009 and a 100% response rate would have an estimated margin of error of +/- 3 percentage points 19 times out of 20 of what the results would have been had the entire adult population of adults in the United States had been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

For more information on this news release, please contact:

Rebecca Sizelove Associate Vice President Ipsos Public Affairs New York, NY 212-584-9253 [email protected]

About Ipsos Public Affairs

Ipsos Public Affairs is a non-partisan, objective, survey-based research practice made up of seasoned professionals. We conduct strategic research initiatives for a diverse number of American and international organizations, based not only on public opinion research, but elite stakeholder, corporate, and media opinion research.

Ipsos has media partnerships with the most prestigious news organizations around the world. In the U.S., UK and internationally, Ipsos Public Affairs is the media polling supplier to Reuters News, the world's leading source of intelligent information for businesses and professionals, and the Hispanic polling partner of Telemundo Communications Group, a division of NBC Universal providing Spanish-language content to U.S. Hispanics and audiences around the world.

Ipsos Public Affairs is a member of the Ipsos Group, a leading global survey-based market research company. We provide boutique-style customer service and work closely with our clients, while also undertaking global research.

To learn more visit: www.ipsos-na.com

About Ipsos

Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. In October 2011 Ipsos completed the acquisition of Synovate. The combination forms the world's third largest market research company.

With offices in 85 countries, Ipsos delivers insightful expertise across six research specializations: advertising, customer loyalty, marketing, media, public affairs research, and survey management.

Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe.

Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of e1,789 billion (2.300 billion USD) in 2012.