The report is called ‘CNP fraud consumer impact: anxiety that reduces credit and debit card usage’and it has been made in partnership with Sparks Research. The study examines the lingering aftermath of CNP fraud regarding shifting consumer shopping behaviors, consumer security concerns, payment card usage, and financial institution (FIs) fraud prevention recommendations.
CNP credit and debit card fraud creates cardholder anxiety and negatively affects consumers’ online shopping behaviors, much to the detriment of FIs and e-commerce merchants. The study found that 56% of cardholders decrease online shopping, reduce payment card usage and close payment card accounts after dealing with a fraudulent event. The study also revealed that 78% of online shoppers want more protection for their payment card data when shopping online.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now