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Older consumers worry about using digital payments — Kaspersky study

The much older generation still has worries about security which prevent them from fully embracing digital payments. This is one of the findings in cybersecurity solutions firm Kaspersky’s research on digital payments.

The pandemic accelerated the use of online payments because of mobility restrictions but concerns about cybersecurity remain among the reasons that hinder full adoption.

Titled “Mapping a secure path for the future of digital payments in APAC,” the study discovered that one in five (21%) of digital payment service users in Southeast Asia (SEA) still experience anxiety when performing online transactions. Among other ages, worry is highest in the oldest group, the Silent Generation (30%). The “seniors” are followed by the youngest generation at 27%.

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Almost one in five (17%) users in SEA admitted that they would rather pay with cash, wherein the oldest generation again logged the highest percent (20%) among all the age groups. Adapting to these new technologies can also present a challenge to the Silent Generation with 20% of them noting difficulties in doing financial transactions online.

The Kaspersky report studies consumer interactions with online payments. It was conducted by research agency YouGov in key territories in APAC, including Australia, China, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Thailand, and Vietnam. Survey responses were gathered in July 2021 with a total of 1,618 respondents surveyed across the stated countries. The respondents ranged from 18-65 years of age, all of which are working professionals who are digital payment users.


On the brighter side, nearly a quarter (24%) of all respondents from Southeast Asia indicated that they fully trust digital payments.

“Their worries are understandable and should be seen as a precautionary measure toward making costly mistakes in a technology they are still learning to use,” said Sandra Lee, Managing Director for the Asia Pacific at Kaspersky. “It is, however, noteworthy that 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.”

Given their preference to be careful online, it is not surprising that the oldest generation favors the efficiency of antivirus software the most. More than 3 in 5 (61%) of adults aged 55 and above showed the highest level of trust towards security solutions compared with the younger age groups.

While on the average, half of all generations in SEA (50%) understood the need for antivirus software to protect their money and online data, Gen Z showed the least trust at 46%, millennials at 49%, and Gen X at 52%.

Almost a quarter (20%) of all respondents felt that the use of antivirus software was sufficient, followed by 17% where respondents were uncertain or unaware about how antivirus could help them mitigate the risk of financial loss. There is still some 14% who said that antivirus software was not an essential tool in the fight against cyber threats seeking to compromise financial data and property.

To help the older adults embrace technologies securely while they are online, Kaspersky experts suggest the following:

  • Installing, launching, updating and effectively using devices and apps is an issue for some older users. Parental controls are not just for restricting children’s activities – they can also be used to simplify things for older adults. Controlled user accounts can help manage their computers, devices, and apps by restricting the number of options they have access to so they avoid confusion and inadvertently launching programs. It can also allow remote logins to help manage activities.
  • Make sure their apps and programs are set to update automatically so they always have the latest and most secure versions.
  • Security solutions and practical steps can minimize the risk of falling victim to threats and keeping financial information safe. Utilize reliable security solutions for comprehensive protection from a wide range of threats, such as Kaspersky Internet Security, Kaspersky Fraud Prevention and the use of Kaspersky Safe Money to help check the authenticity of websites of banks, payment systems and online stores you visit, as well as establish a secure connection.
  • Regularly explain to them the essentials of safe internet and cyber hygiene practices. Teach them how to keep their password private, only share information with people they know in real life, only connect to home networks when making online transactions, and never click on doubtful links, etc.
  • Encourage them to contact you if they have any questions or require assistance in the digital world.
  • Users can also opt for the latest offers from the global cybersecurity company here: