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55% Of People Don’t Like Giving Their Credit Card Info To Social Networks

Sites include . Published on February 23rd, 2012. Written by Anthony West.

It looks like the built-in share-heavy nature of social networks is large chunk of users uneasy about disclosing their financial information.

A study conducted by marketing company, Digitas in conjunction with Harris Interactive has revealed that a whopping 55% of shoppers are very dubious about entering their credit card details over social networks. For the majority of the 2,247 shoppers that were surveyed, sites like Facebook arte just not seen in that way, and inspire little confidence as a shopping platform. Unsurprisingly, the older and more moneyed shoppers were even more dubious about the practice of giving credit card information over a social network.

This reluctance to spend over a social network is despite the projected $30 billion that social commerce is expected to surpass in the next 5 years. Clearly from this projection there is an expectation that this 55% will decline gradually in the coming years. But before this can happen, platforms like Facebook will need to shore up their security apparatus. The frequent hacking of accounts and virus and worm infections is enough to put off the most confident of online shopper so the scepticism doesn’t surprise me in the least.

What say you? Are you comfortable giving your credit card info over social networks? Let us know below.

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