Checkout.com research: many parents of under 18s feel kids are ill equipped to keep money safe online
New research by YouGov, commissioned by digital payments platform, Checkout.com, reveals that UK parents are concerned about children’s online financial safety.
This involved 18,000 respondents from across 16 countries (Australia, Saudi Arabia, United Arab Emirates, Egypt, China, Japan, New Zealand, Netherlands, Sweden, Germany, France, Spain, UK, USA, Canada, Brazil)
Although 62% of UK adults feel well informed about how to keep their money safe online, parents are worried about their children. 23% of parents of under 18s believe that children are well equipped to keep their money safe online.
New technology is seen as a critical safety net by parents of under 18s, with 56% of parents believing digital ID verification is the future of secure online payments. Half of all parents believe widespread use of digital ID would make the internet safer and 51% would be more trusting of merchants and financial institutions using digital ID verification.
This may be driven by ‘secret spend’, where children are making online payments without their parents’ knowledge. 13% of parents have experienced this, with 7% saying the unauthorised amount exceeded £1,000. Likely to combat this phenomenon, 26% of UK parents are already using payment methods that leverage biometrics for authentication - thereby preventing anyone but themselves from making an online payment on their device.
Rory O’Neill, Chief Marketing Officer at Checkout.com, says:“Trust is the foundation of the digital economy. As more families live and transact online, building confidence in how payments are made is essential, not just for adults, but for the next generation too.”
“When parents know that merchants and platforms are using secure, transparent tools like biometrics and digital ID, they feel reassured. We see it as our responsibility to help create an ecosystem where trust isn’t just earned - it’s embedded into every payment. A perceived unsafe payment process will send consumers elsewhere, so it’s critical for online retailers’ sustained growth.”
The research also shows that UK consumers do have faith in legal protections regarding online payments. 41% of UK adults trust that they are well protected by the law when transacting online, compared to just 16% who do not. Feeling safe in online transacting is essential, as 51% of UK consumers cited uncertainty about the safety of the payment process as the factor most likely to erode their trust and loyalty when shopping online.
2025 RTIH INNOVATION AWARDS
Payments will be a key focus area at our sister title RTIH’s 2025 Innovation Awards.
The awards, which are now open for entries, celebrate global tech innovation in a fast moving omnichannel world.
The 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.
In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”
He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”
“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”
For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.
