Fear of Fraud

Industry Analysis M arketWatch: Financial Services wangle of hypocrite and escape of payment tools argon preventing consumers from shopping online fear of payment fraud is the biggest obstacle to the growth of online commerce, while bother to payment tools remains a big infrastructure obstruction for consumers in rising countries, according to Datamonitors latest Online Payments: Cards not Present? stem (February 2012, CM00139-004). Concerns about payment fraud is mavin of the factors that has prevented to a greater extent than half(prenominal) of consumers (55%) who have not shopped online from doing so. This represents the single biggest prohibition to online commerce, more so than the direct of concern toward mail security, which is an additional barrier to the purchase of online products. Fear of fraud has always been a major(ip) issue when it comes to the online channel, and is furnish by both the media and reports from consumers who have been victim s of fallacious activity. Interestingly, the actual level of compromise incidents remains quite upset in some countries but is still significant complete to fuel a high level of concern. Infrastructure issues ar a more significant barrier for consumers in emerge countries than those in developed countries.

Indeed, of the 21 countries included in Datamonitors research, Brazil, China, India, Mexico, Poland, Russia, and entropy Africa tend to have a higher proportion of consumers who are concerned about infrastructure issues, with on average 24.5% of individuals indicating this to be one of the reasons they do not ma ke purchases all everyplace the Internet.! This is an important issue and should be seen as an opportunity for financial serve providers to reassure consumers; where there is demand for consumers to go online it is the aim of providers to faithful the gap in the payment infrastructure. However, this could also be seen as an issue of lack of consumer education in monetary value of online commerce. Some consumers whitethorn view a credit or debit wittiness with...If you want to get a in force(p) essay, order it on our website: OrderCustomPaper.com

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