Accordingly, 9 out of 10 consumers have stopped an online order before checkout was completed, and the reasons behind cart abandonment are usually mistrust, such as past bad experiences, a seemingly unreliable website, an unknown payment page, or general lack of information. Besides, it was stated that 10% of failed transactions are caused by timeouts, and another 10% are caused by incorrectly entered data, information shown by the Payment Experience Report from Frontìra.
Moreover, according to Mastercard’s business development manager, nearly 58% of people in Hungary are frustrated with online shopping, while one in five are specifically uncomfortable with paying, although 'the interests of the buyer and the merchant are the same: there should be no compromise on payment solutions.'
Furthermore, insights from economic research institute GKI show that the COVID-19 pandemic has led to a boost of ecommerce in Hungary, as in the first six weeks of the lockdown period alone, more than 50,000 new Hungary-based online shoppers appeared, bringing the number of domestic people shopping online close to 3.5 million.
Overall, ecommerce in Hungary grew to 984 million euros, an increase of almost 35% compared to the first half of 2019, Ecommerce News reported.
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