Shoppers consider security when making online payments: new yStats.com report

(PresseBox) (Hamburg, ) A new report from Germany-based online business intelligence firm highlights the concern of online shoppers and sellers about payment security. CEO Yücel Yelken, points out that the new report “Fraud and Security in Global Online Payments 2016” tells of increasing fraud in online payments.

Global online payment fraud is increasing at double digit rates, according to a forecast cited in the yStats.com report, and retail E-Commerce transactions is a major component of that fraud. This motivates payment companies to seek innovative means to make online and mobile payments more secure, including biometric authentication.

Surveys cited in the yStats.com report reflect that consumers consider payment security in their decision whether to make online purchases, as well as in the choice of payment method. In the USA, shoppers have indicated that security is more important than speed, and in Spain and Germany, payment security is the top concern of online shoppers in choosing a payment method. Fear of data compromise also appears to be keeping shoppers from adopting new payment methods such as mobile payments. Over 50% of survey respondents worldwide expressed concern about the security of mobile payment apps.

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yStats.com GmbH & Co. KG

Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.

Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.

We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.

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