AUSTIN, Texas–Ninety-four million Americans have their credit or debit card information stored on a website or mobile app for future purchases, according to a new report from CreditCards.com.
That includes more than 14 million who always save their information, the report found. The “Silent Generation” is the most inclined to do so, and is more than twice as likely to consistently store this data online, according to CreditCards.com.
“When it comes time to check out, Gen Xers and Baby Boomers are the most guarded with their payment information; two-in-five indicate they never save their credit or debit card information for future purchases,” CreditCards.com said.
Online shopping, in general, is more popular amongst younger generations and higher earners. While 62% of consumers report making online purchases, just 26% of the Silent Generation shops online, compared to 76% of Millennials, according to the survey. Families earning $75,000 or more per year are almost twice as likely to shop online as those making less than $30,000.
“There’s no denying the convenience of online shopping; you don’t even have to put on pants to make a purchase,” said CreditCards.com Senior Industry Analyst Matt Schulz in a statement. “However, saving your payment information online not only increases the likelihood of making unnecessary impulse purchases, it can also leave your data vulnerable to hackers.”
The same survey found consumers turn to the Internet more often to purchase personal electronics than clothing, groceries and furniture. Thirty-three percent of online shoppers always or mostly make electronics purchases online, compared to 22% for clothing, shoes and accessories, 6% for furniture and 4% for groceries.
For more info:http://www.creditcards.com/credit-card-news/store-card-information-online.php