Partner Article

Security is Primary Concern for Online Consumers

New Survey by Allied Wallet Finds Security is Top Priority for Online Consumers

Poll finds a quick and easy payments transaction process also important to vast majority of consumers

London, UK - 26 May 2016 – 84% of consumers say that having ‘safe and secure payments processing’ in place is ‘extremely important’ to them when it comes to paying for goods or services online. The finding comes from a new survey carried out by internet payment service provider, Allied Wallet, polling the views consumers from Australia, the US and the UK.

Having a ‘quick and easy payments transaction process in place’ was the next highest priority, ranked by the vast majority of poll respondents as important to their experience as an online consumer and rated as ‘extremely important’ by nearly half of the sample (49%).

“These two issues are clearly top of mind for consumers when buying online,” says Andy Khawaja, CEO, Allied Wallet. “Merchants offering online services need to take the learning points from this. By drawing on the latest payments processing technology, they can comply with the highest possible security standards and deliver a quick-fire payments process, in turn enabling customers to access goods and services with complete peace of mind.”

Further underlining the importance of these areas, the survey finds that merchants that fail to address both of them effectively risk negatively impacting brand perception. When asked ‘which of the following issues have you encountered in the past with payment systems that have changed the way you subsequently perceive the brand?’, the top two answers were ‘no clear guarantees that the payments process is fully secure’ (58%) and ‘complex time-consuming processes in place’ (52%).

According to Khawaja: “In a world where online transactions are increasingly the norm and secure, trustworthy and highly-efficient online payment processors widely available, there should never be any cause for consumers to be concerned about the integrity or the speed of transaction processing. The latest payments processing technology can be crucial in delivering safe, secure and efficient services to customers and in enabling merchants to provide the reassurance consumers need about the integrity of the payments process.”

Other key survey results highlight the importance of trust to consumers when engaging with merchants online. The fact that the merchant or retailer is well known and well trusted is the most critical factor for consumers, cited by 63% of respondents. In line with other survey findings, prominently displayed security certifications are also regarded as ‘very important’ - referenced by more than half (51%) of the sample.

The Allied Wallet research also highlighted an ongoing lack of confidence demonstrated by some respondents in using credit or debit cards to make purchases overseas. One in three consumers (33%) claim not to be confident in using their credit or debit card to make payments overseas and just 9% claim to be ‘very confident’ in doing so.

In the UK, confidence is a little higher than in the other countries profiled. Here, 42% of the sample state that they are either confident or very confident in using their credit or debit card to make purchases overseas while just 7% say they are not at all confident. In the US, in contrast, confidence levels are very low. Just one in five consumers (20%) say that they are ‘confident’, or ‘very confident’, in doing this and as many as 18% claim to be ‘not at all confident’.

“At first glance, these figures may appear a cause for concern,” says Khawaja. “But the good news is technology can play a key role in addressing these challenges and delivering a global ecommerce capability that helps build trust with consumers, whenever and wherever they are conducting a transaction.”

About Allied Wallet

Allied Wallet offers innovative and affordable payment processing solutions that provide simplicity, efficiency and productivity to e-commerce business owners. Today, the company’s processing solutions span 164 currencies, 196 countries, and nearly every international payment method. Thousands of merchants worldwide place their trust in Allied Wallet and more than 100 million users have already taken advantage of the company’s services across all corners of the globe. Learn more at http://www.alliedwallet.com

Contact:

Liam Sherry

The Whiteoaks Consultancy

Phone +44 1252 727 313

Email: liams@whiteoaks.co.uk

This was posted in Bdaily's Members' News section by Allied Wallet Europe .