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Online shopping security in the spotlight, a MasterCard Survey

Apr 16th 2014, 08:38

Online shopping security in the spotlight, a MasterCard Survey

Overall online shopping experience more likely to influence purchase than product price

A recent MasterCard, http://newsroom.mastercard.com, Online Shopping Behaviour Study reveals that 90% of South African respondents cite the availability of secure payment facilities as critical when shopping online. Concern around the safety of online transactions was the reason 42% gave for not shopping online in the last three months, up 4% from last year.

When asked how online shopping could be improved, a little over half (53%) of the respondents suggest visible, explicit assurance that their transactions are secure, while 52% recommend “protection against unscrupulous websites.” A further 48% suggest guarantees by financial transaction companies or banks that websites are safe.

Despite this seemingly negative sentiment towards online shopping, over two thirds (69%) of respondents say they have made at least one purchase online in the last three months and a significant 87% of those reported being very or extremely satisfied with their experience.

“Consumers want to shop online but they are still nervous about doing so,” says Philip Panaino, Division President, MasterCard, South Africa, “This year’s survey confirms that mandating 3D Secure payment card authentication, like MasterCard SecureCode™, is an important measure to ensure the sustainability of South Africa’s e-commerce industry.”

3D Secure adds an additional layer of authentication between the cardholder and their card issuer, reducing the risk of fraudulent online transactions. Merchants benefit too; in the event that a card is used without permission, liability shifts away from the retailer.

Retaining a human element in the purchasing process also contributes to reassuring consumers, as the majority (82%) of respondents stated that customer service via online chat or telephone is important when shopping online.

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