August 24, 2016
Report: Consumers Remind Merchants Security Not Just a Mobile Concern
Sept. 8, 2015
While consumer concerns with security are front and center when thinking about mobile transactions, new research shows merchants need to be sensitive to similar concerns consumers harbor about traditional e-commerce. A global survey from Worldpay found 25 percent of consumers named a sense of security as the top priority when deciding if they want to make a desktop or laptop purchase from an online retailer. Forty-six percent of respondents said seeing prominent payment authentication and digital certificate logos would help address their concerns. And, the report found, doing so just once will not be enough for most consumers.
“Nagging doubts about the security of their payment details can add up over the multiple stages of the purchasing journey for shoppers and stop them from ever clicking ‘buy’, even if they really want a product,” said Stuart Thornton, vice president of Business Development in APAC for Worldpay. “When selling online, retailers need to step in and reassure customers that their information is in safe hands, from the second they start browsing a site to the moment they receive an email confirming their purchase.”
According to the report, security in online transactions is especially important in China where 70 percent of consumers said they feel better if payment authentication and certificate logos are clearly displayed. Being unexpectedly redirected to a third-party site is also a big problem, with 94 percent expressing concern and 20 percent saying they would instantly end the transaction.