More than one in ten (12%) of the UK consumers surveyed who have a debit or credit card claim to have had a payment made from their debit or credit card without their permission in the last 6 months alone, according to the research.
58% of consumers say that security, e.g. ensuring the transaction and payment information aren’t compromised, is their biggest concern when making a payment online.
Equally, 49% of consumers surveyed who have ever purchased goods and services online rarely or never agree to save their payment card details with retailers and stores for easier check out in the future when available. Of those surveyed who have ever purchased goods and services online and don’t always agree to save their payment card details with retailers and stores, 57% cited security concerns as their reason for this, while 47% cited privacy concerns e.g. ensuring their personal details aren’t shared.
Furthermore, just under a third (32%) of these individuals cited trust of merchant e.g. concerned the merchant will make an unauthorised transaction as the reason for not always agreeing to save their payment card details. Also, more than a third (36%) of UK consumers have concerns about a specific online retailers’ security that it prevented them from purchasing goods or services from them.
On the other hand, consumers consistently prioritised ease of use, which over 2 in 5 (44%) said was the most important factor when choosing how to pay in-store. By comparison, only 37% cited security as the most important factor.
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