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Online shoppers concerned about payment security, says yStats.com research
Hamburg’s B2C E-Commerce intelligence company yStats.com has turned its attention to how shoppers pay for online purchases with its new report “Global Online Payment Methods: First Half 2016.” Among the findings revealed in the publication is the growing concern of online shoppers and merchants regarding the security of payment information.
Payment security is a top priority for online shoppers in many countries around the globe, affecting their chose of payment method. Over half of surveyed buyers expressed worries about their personal information when paying via mobile. In the mature market of the USA, a quarter of Internet-connected households stated in a 2015 survey, cited in the yStats.com report, that they avoided making online purchases out of fear of compromise of personal finance information.
In spite of those security concerns, the yStats.com report reveals that online payments are growing inexorably in value and number and evolving in methods. Mobile payments are gaining ground, especially among younger shoppers, for in-store as well as online purchases. Digital payment methods such as PayPal and AliPay have grown in popularity, rivaling credit card use in some markets. Nevertheless, credit card remains the top payment method used by online shoppers globally, though cash on delivery is still widely used in regions such as Eastern Europe, the Middle East and Africa, according to the findings of the new yStats.com report.
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