The Clearsale Blog

Report Finds More Than Half of Consumers Not Concerned About Online Fraud

Report Finds More Than Half of Consumers Not Concerned About Online Fraud

In a study to determine the effects a global pandemic had on consumer behavior and attitudes toward e-commerce, researchers found at least 20 percent of the increases e-commerce merchants realized as a result of Covid will persist beyond the end of the crisis.

And, while many studies showed a concurrent increase in fraud that coincided with the increase in online transactions in 2020, false declines remain a bigger problem: For every $1 in credit card fraud losses, merchants lost $13 by rejecting legitimate sales due to suspicion of fraud, according to the 2021 Global Ecommerce Consumer Behavior Analysis from Sapio Research and antifraud technology provider ClearSale.

In addition to buying behavior, the survey polled consumers on their attitudes toward fraud and security. Surprisingly, nearly 80 percent of shoppers said they feel as safe or safer shopping online than in stores, even though 42 percent reported having been victims of online fraud.

As ClearSale’s Rafael Laurenco noted in the report, that may have to do with issuers’ liability. Banks, because they are not liable for losses in card-not-present transactions, are more likely to reimburse with no questions asked consumers who claim fraud in online transactions, he said.

The report also found that accepting payments from consumers in other countries is becoming more important. More than half (52 percent) of all consumers order from overseas.

Original article published at: https://news.cardnotpresent.com/news/report-finds-more-than-half-of-consumers-not-concerned-about-online-fraud

You may also like

Merchant Fraud Journal’s 2021 Trends Report

Merchant Fraud Journal’s 2021 Trends Report

How can merchants anticipate, prevent, and address new fraud tactics in the coming year?

Unify Customer Data for Better Marketing, CX and Fraud Prevention

Unify Customer Data for Better Marketing, CX and Fraud Prevention

Learn how unified data gives you a single view of your customers for your marketing and fraud control teams.

Is your e-commerce store getting the most value from the data you collect? Ideally,..

Consumer Attitudes and Behaviors Are Shaping the Future of Retail

Consumer Attitudes and Behaviors Are Shaping the Future of Retail

To survive the current global economic downturn caused by the coronavirus pandemic, retailers need to fully accept mobile device shopping. To succeed, the e-commerce industry needs to learn about..

What Ecommerce Fraud Issues Will Retailers Face in 2021?

What Ecommerce Fraud Issues Will Retailers Face in 2021?

After a year like no other, merchants and their customers are looking forward to the possibility of some return to normalcy in 2021. However, some of the fraud trends we saw in 2020 will be with..

Inside Ecommerce: Guide to AVS Mismatch

Inside Ecommerce: Guide to AVS Mismatch

The idea behind the Address Verification System (AVS) is fairly simple: If the billing address entered by the shopper doesn’t match the billing address the bank has on file, it will trigger an AVS..

Top 7 Ecommerce Trends for 2021 to Watch

Top 7 Ecommerce Trends for 2021 to Watch

While we’re not quite sure what 2021 will bring (it could be normalcy ... or it could be utter chaos), ecommerce is expected to continue its meteoric rise. Shoppers will eventually return to..

What Can Your Brand Do With Social Video Marketing Now?

What Can Your Brand Do With Social Video Marketing Now?

Both B2C and B2B brands can drive engagement and conversions from social video marketing. Here's how.

How can businesses use social video now? For both B2C and B2B brands, the short answer is..

A Two-Tiered Approach to Fraud Prevention Can Help Online Businesses Boost Sales

A Two-Tiered Approach to Fraud Prevention Can Help Online Businesses Boost Sales

Every online merchant understands the financial harm that fraud can do, including chargeback fees, higher payment processing rates, lost product, and other costs like shipping, marketing and fraud..

Analyze Your Holiday 2020 Fraud Data Now to Prep For Holiday 2021

Analyze Your Holiday 2020 Fraud Data Now to Prep For Holiday 2021

With the 2020 winter holidays in the books, ecommerce merchants are planning for the 2021 holiday sales season. That planning should include a review of your store’s 2020 holiday fraud-prevention..

Want to write
for our blog?

Please review our writers' guidelines
https://www2.clear.sale/press/clearsale-guest-blog-guidelines
and then email guestwriter@clear.sale with your pitch!

Subscribe to our blog