A report conducted by Ukash reveals that nearly one third of online shoppers actually prefer to pay with cash. The 18-24 year old age group are the biggest users of cash online. Shopping online appeals to this group, but they also want payment choices that do not require a bank account or credit card. It therefore makes sense for retailers to offer these alternative payment solutions for their customers.
Findings also indicate that consumers prefer to pay with cash so that they do not have to provide their personal information when making purchases on the internet. Over a third (39%) of consumers said they have abandoned an online transaction because they thought they were being asked for too much personal information. Whilst consumers understand that the information they provide is required to protect them against card fraud and identity theft, there’s also a concern that being asked too much information might actually place them at greater risk.
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