Consumers are seeking greater security and frictionless payment experiences when buying products online, according to a survey from BR-DGE.
The UK consumer survey found that 34% of shoppers rank data security and payment encryption as the most important element of a positive online payment experience. The survey, which got the responses of 1,200 consumers, found that 83% of respondents are concerned about how their card details are processed and stored during a transaction.
Moving away from security, 68% of online shoppers are demanding a frictionless payment experience and a poor experience at checkout causes a negative impact on their willingness to buy online. Being taken away from the checkout screen for authentication impacts the desire to complete a transaction for 52% of respondents.
The report also found that 21% of consumers become less confident in a seller if there is a failed transaction. Similarly, 23% said a failed transaction reduces the confidence in the checkout itself.
BR-DGE enterprise sales manager Mark Whybrow, said, “For e-commerce firms, this research highlights the opportunity to improve the customer experience of payments and reduce failed transactions by optimising their payments infrastructure.
“As consumer budgets tighten, the importance of offering a first-class end-to-end payment experience is even more important in order to build customer loyalty. At BR-DGE, we are excited to continue to support sellers that want to stay ahead of the pack and remove the pain points in the customer journey.”
Another recent study exploring the payments sector was released by Juniper Research. It found that global instant payment transactions could exceed 235 billion by 2027, rising from 74 billion in 2023.
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