Four in 10 UAE consumer experienced online fraud attempts in 2020

Monday 12 July 2021 13:47 CET | News

UAE’s 2021 Stay Secure Study, launched by Visa, Dubai Police, and Dubai Economy (DED), has revealed that almost four in 10 UAE consumers have experienced online fraud attempts in 2020.

It shows that 39% of UAE consumers surveyed have experienced an online fraud attempt. Around a quarter of consumers (27%) have experienced phishing, while just under a fifth have experienced credit card fraud (19%) and receiving counterfeit goods (17%).

The same study shows that trust and usage of digital payments both in-store and online see no signs of ceasing as consumers still prefer them over cash, citing improved technology, and security measures as reasons why they still feel more secure with these methods of payment.

While ecommerce and contactless payments have increased in popularity and use since the start of the pandemic, paying by Cash on Delivery (COD) has declined (75%), while the use of digital payments (contactless cards and mobile wallets) for payment online or on delivery has almost doubled (by an average of 98%).

Nearly two-thirds of consumers (63%) have high level of confidence in digital payments for shopping in-store and payment on delivery. Top reasons consumers gave for their trust in contactless include convenience (60%), speed (59%), control (46%), avoiding human touch (56%), and innovative way to pay (48%).

Biometrically verified payments also scored high with consumers, with more than a third (67%) saying it is secure, and 60% saying it gives them complete control.  

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: online fraud, digital payments, Visa, fraud prevention, ecommerce, biometrics
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: United Arab Emirates
This article is part of category

Securing Transactions

Industry Events