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UK: Online fraud considered main threat by 72% of digital merchants

Thursday 17 March 2011 10:40 CET | News

In UK, 72 percent of digital merchants perceive online fraud as a major threat to their business, as compared to 59 percent of respondents across all sectors combined, according to the UK Online Fraud Report released by global payment services provider CyberSource.

Orders from outside the UK (meaning that when fulfilled, the item ordered is downloaded in a country outside the UK) are accepted by 69 percent of digital goods merchants, while only 59 percent of physical good retailers take orders from outside the UK.

The same source indicates that digital goods merchants have witnessed a higher percentage of international web orders, as compared to physical goods merchants, namely 35 percent versus percent.

Almost 40 percent of the digital merchants no longer accept orders due to fraud risk from countries outside the UK, as compared to 25 percent of physical goods merchants. Moreover, 9 percent of the travel companies have stopped accepting orders outside the UK.

Nearly 47 percent of digital content merchants who stopped accepting orders from outside the UK have excluded Nigeria. This is followed by China, South Korea and Vietnam which have been each blacklisted by 29 percent of digital goods respondents.


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Keywords: online fraud, digital merchants, Cybersource
Categories: Payments & Commerce
Companies:
Countries: World
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Payments & Commerce






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