KUALA LUMPUR – One in five or 21% of Malaysians still experience anxiety when performing online transactions despite digital payment systems having emerged as the leading choice for many consumers in Southeast Asia.
This was revealed by global cybersecurity firm Kaspersky in its study titled Mapping a secure path for the future of digital payments in Asia-Pacific.
The study by the digital privacy company also discovered the elderly’s worries about online transactions compared to the younger generation.
“Among other ages, worry is highest with the oldest group, the silent generation (30%). Almost one in three seniors in Southeast Asia gets anxious when making online payments.
“Interestingly, the seniors are followed by the youngest generation at 27%,” it said in a statement today.
Meanwhile, almost one in five (17%) users in the region admitted that they would rather pay with cash, where the oldest generation, again, logged the highest percentage (20%) among all the age groups.
Adapting to these new technologies, the study said, can also present a challenge to the silent generation with 20% of them noting difficulties in doing financial transactions online.
Kaspersky’s managing director for Asia-Pacific Sandra Lee said senior citizens’ worries are understandable and should be seen as a precautionary measure against making costly mistakes with technology they are still learning to use.
“However, most of them (26%) do trust digital payment platforms. As they are welcome to adapt to changes, we encourage the younger generation to step forward and assist our older loved ones. Community and government awareness and education efforts are also essential.”
The study revealed that nearly a quarter (24%) of all regional respondents indicated that they fully trust digital payments.
The study was conducted in key territories, including Australia, China, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Thailand and Vietnam.
It involved respondents ranging from 18 to 65 years of age, all of which are working professionals who are digital payment users. The survey responses were gathered in July 2021 with a total of 1,618 respondents surveyed across those 10 countries. – The Vibes, May 5, 2022
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