Six in ten US users won't buy online

Six in ten US adults won't do business over the web because of security fears, and half of those that do, worry about it, according to a new report.

Researcher GartnerG2 found that 86 per cent of US adults are very concerned about the security of their bank details when making online transactions.

High-profile hacking incidents, as well as a general lack of familiarity with methods to ensure security, are to blame for the low consumer confidence ratings, said Gartner.

Only about half of US internet users buy online, and according to the report, consumers will continue to keep their e-wallets closed until they know more about industry standards for authentication and secure payment methods.

Laura Behrens, analyst at Gartner, said firms have to promote security policies to win over the massed ranks of doubters and stay competitive.

She added that although 70 per cent of customers are very concerned about giving out personal details when they buy online, they will do so for the right product at the right price.