Security concerns, fraud stopping millennials from transacting more frequently via mobile

Smartphone millennials
Security concerns give even tech-savvy millennials pause when shopping on mobile.

Although millennials more frequently transact via mobile than shoppers from other age groups, concerns about identify fraud and security may be keeping them from using the channel more. According to a recent study of smartphone users in the U.S. and U.K. by Mitek, 25% of respondents conduct mobile transactions such as purchases at least once a day and 29% do so a few times a week. In addition, one in five make mobile purchases once or twice a month and 9% do so only a few times a year. Nearly half said they had concerns about the security of transactions. (eMarketer)