Online shoppers still shaky on security, finds Worldpay
Research reveals security is a top concern for online shoppers at every step of the purchasing journey
London, 8 April 2015 – A sense of security is paramount for nearly one quarter of shoppers when evaluating whether to purchase goods from a retailer online, according to a new survey from Worldpay for which 3500 online shoppers were polled globally. Assuring customers that they are in safe hands throughout the experience should therefore be a priority for retailers’ websites.
Similarly, for one-quarter of online shoppers, seeing payment authentication and digital certificate logos displayed prominently on a retail site’s homepage is the single most reassuring element in the purchasing process. Forty-six per cent of people globally admit this would help address their concerns. This figure is even higher in Mexico (66%), Brazil (52%) and Chile (59%), indicating that this simple tactic will go a long way in addressing the misgivings of Latin American shoppers.
Shoppers’ fears over data security persist throughout the purchasing process. In Mexico, 26% of shoppers have dropped out of the checkout over security concerns, an issue that is almost equally prevalent in Chile and Spain (23%), Brazil (22%), India (21%) and France (21%).
Maria Prados, VP of Global Retail, Worldpay, said: “Nagging doubts about the security of their payment details can add up over the multiple stages of the purchasing journey for shoppers and stop them from ever clicking ‘buy’, even if they really want a product. When selling online, retailers need to step in and reassure customers that their information is in safe hands, from the second they start browsing a site to the moment they receive an email confirming their purchase”.
At checkout, shoppers expect the ability to use their preferred payment method and want the process to be simple and intuitive. Sixty-five per cent globally have abandoned their purchase at the checkout stage.
Nearly 60% of shoppers globally would drop out of a purchase if their preferred payment method was displayed on a retail site’s homepage but wasn’t available at checkout. In France and the UK, more than 75% of shoppers would drop out. At the same time, 40% of shoppers globally admit they would not take the time to look for their preferred payment method at checkout if it wasn’t easy to find, and would end a transaction prematurely as a result.
Retailers must also manage customer expectations by clearly indicating what they can expect at each stage of the payments journey, particularly when redirecting them to a third-party website. Ninety-four per cent of shoppers globally say this is important, and one-fifth would instantly drop a transaction if ushered to a third-party site without warning. In the US, Germany, and Japan, nearly 30% of shoppers would drop out in the event of a surprise re-direct.
Prados added, “Purchasing products online demands a certain level of trust between retailers and shoppers, and making the process simple and transparent is absolutely essential. Retailers will struggle to inspire confidence in their customers if they cannot deliver on shoppers’ expectations and give them peace of mind throughout the purchasing journey”.
The need for retailers to act as a source of reassurance for shoppers is equally strong when it comes to handling errors or providing customer support. Nearly two thirds of online shoppers (64%) want a clear and immediate explanation of exactly what went wrong. When it comes to additional support, 27% want to be able to call customer support, while 24% want the option to email a support representative.
Clear error messages also head off any potential confusion as to whether a transaction has been processed. Ninety-six per cent of shoppers say it is important they receive an email confirming that their order has been processed and their payment accepted
Prados said. “If there is one thing to take away from these findings it is that the online payments journey is inextricably linked to the user experience. If retailers cannot reassure customers that their transaction will be quick, secure, and managed to the highest standard of professionalism throughout the payment journey they will struggle to keep shoppers engaged.”
The research was carried out in partnership with KAE Marketing Intelligence Limited, who conducted a desktop analysis of 350 top retail sites and surveyed 3500 online shoppers in 14 countries across North America, South America, EMEA, and APAC. For the full report, visit