Almost 1 in 3 seniors in SEA gets anxious when paying online, says study

A recent Kaspersky research showed that senior citizens are worry about online transactions and their trust in antivirus software compared with the younger generation.

Almost 1 in 3 seniors in Southeast Asia (SEA) become anxious when making online payments, Kaspersky data revealed.

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 SEA still experience anxiety when performing online transactions.

Among other ages, worry is highest with the oldest group, the Silent Generation at 30%. Interestingly, the seniors are followed by the youngest generation (Gen Z) at 27%.

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 on doing financial transactions online.

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

“The older adults are not from the internet age. Their worries are understandable and should be seen as a precautionary measure towards making a costly mistake in a technology they are still learning to use.  Most of them (26%) do trust digital payment platforms.

“We encourage the younger generation to step forward and assist our older loved ones. Community and government awareness and education efforts are also essential,” said Kaspersky Asia Pacific managing director Sandra Lee.

Given their preference to being careful online, it is not surprising that the oldest generation favors the efficiency of antivirus software the most.

More than three in five (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.

Lee added, “The true significance of security solutions should be best understood at present time when we hear about scams and financial frauds, one after another. We urge all generations to look into safeguarding their devices with the right tools to secure not only their data but most importantly their hard-earned money.”

The study 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.