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Fraud and Security in Online Payments 2016

Fraud and Security in Online Payments 2016

Shoppers consider security when making online payments: new report

Global online payment fraud is increasing at double digit rates, according to a forecast cited in the 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 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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1. Management Summary
2. Global Developments
Overview of Trends in Online Payment Security, September 2016
Value of Online Payment Fraud, in USD billion, 2015 & 2020f
Breakdown of Online Payment Fraud by Segments, in % and in USD billion, 2020f
Breakdown of Innovations that are Expected to Have the Largest Impact on Payment Fraud Prevention in the Next 3-5 Years, in %, October 2015
Breakdown of the Means of Security Protection for Consumers Making Mobile Payment that are Expected to Become Dominant by 2030, in %, October 2015
Main Criteria For Adopting Innovative Payment Methods, in % of Consumers in Selected Developed Countries, by Very Important and Rather Important, June 2015
Perception of Security of Mobile Payments, by Generations, in % of Respondents, 2015
3. Asia-Pacific
3.1. China
Types of Fraud Encountered in Online Shopping, in % of Online Shoppers Who Encountered Fraud, June 2015
3.2. Japan
Breakdown of Chargeback Value, in % of Chargebacks, July 2016
3.3. South Korea
Barriers to Using Mobile Payment Services, incl. “Privacy and Security Concerns”, in % of Smartphone Users Who Do Not Use Mobile Payment Services, March 2015
3.4. Australia
Value of Card-Not-Present Fraud, in AUD million, and Share of Total Card Fraud, in %, 2010 - 2015
3.5. Taiwan
Top 5 Verification Methods Acceptable to Consumers in Mobile Payments, in % of Mobile Payment Users, 2015
3.6. India
Breakdown of Reasons for Not Shopping Online, in % of Internet Users Who Do Not Shop Online, 2015
4. Europe
4.1. Regional
Reasons Not to Shop Online, in % of Individuals Who Ordered Goods/Services Online More than a Year Ago or Never, 2015
Top Locations Where Consumers Would Want to Use Biometric Authentication for Payments, in % of Respondents, May 2016
Share of Internet Users Who Would Feel Confident that Their Money Is Secure If They Used Contactless Payments, by Selected Countries, Compared to Australia and the USA, in %, April 2016
4.2. UK
Breakdown of Security Concerns When Paying by Entering Credit/Debit Card Details Online, in % of Internet Users, 2013 - 2015
Breakdown of Attitude Towards Security of Mobile Payments, in % of Mobile Users, by Age Group, Gender and Total, 2015
Services that Adults Would be Most Comfortable Using Biometric Identification for, incl. “Authorizing Payments”, in %, September 2015
4.3. Germany
Most Important Criteria When Choosing a Payment Method to Purchase Online, in % of Online Shoppers, 2015
Usage of and Interest in Mobile Payments In-Store and Payments Based on Biometric Identification In-Store, in % of Consumers, and in % of Retailers, May 2016
Reasons for Not Using NFC Payments, incl. “Security Concerns’, in % of Smartphone Users Who Have Not Used NFC Payments, April 2016
4.4. France
3D-Secure Transactions’ Share of Online Card Payment Transactions, in %, April 2012 – October 2016
Fraud Rate by Type of Card Payment, incl. “Distant Payment”, in %, 2015
4.5. Russia
Share of Online Merchants Using 3D-Secure, in %, May 2016
4.6. Spain
Breakdown of Aspects Most Important for Payment Methods in Online Shopping, in % of Online Shoppers, 2015
Payment-Related Problems that Led to Cancellation of Online Purchase, in % of Online Shoppers, 2014 & 2015
4.7. Greece
Most Important Features of Online Shops, incl. Payment-Related, in % of Online Shoppers, November 2015
5. North America
5.1. USA
Share of Online Shoppers Who Would Prefer Payment Security Over Transaction Speed When Paying Online, by Purchase Worth USD 5 and USD 100, in %, May 2016
Average Annual Spending on Fraud Prevention and Chargebacks, in USD million and in % of Operating Budget, by Online Retailer Type, 2015
Payment Methods Used in Online Shopping and Payment Methods Perceived as the Safest Way to Pay in Online Shopping, in % of Online Shoppers, September 2015
Major Concerns Related to Online Privacy and Security Risks, incl. Payment-Related, in % of Households with Internet Users, July 2015
Reasons for Not Using Mobile Payments, incl. Security-Related, in % of Mobile Phone Users Who Did Not Use Mobile Payments, 2015
Perception of Security of Mobile Payments, in % of Mobile Phone Users, 2013 - 2015
5.2. Canada
Types of Financial Fraud Experienced, incl. “Online Fraud”, in % of Victims of Financial Fraud, February 2016
6. Latin America
6.1. Brazil
Reasons for Not Shopping Online, incl. Security Concerns, in % of Internet Users Who Do Not Shop Online, 2014
6.2. Mexico
Available Security and Control Features on Online Retail Websites, in % of Online Retailers, Q1 2015
Chargeback Rate, in % of Number of Authorized Payment Transactions on E-Commerce Websites and in % of Their Value, by Credit Cards and Debit Cards, Q1 2015 – Q1 2016
6.3. Chile
Reasons for Not Shopping Online, incl. “Do Not Feel Safe Providing Card Details”, in % of Internet Users Who Have Not Shopped Online, January 2015
6.4. Peru
Breakdown of Reasons for Not Shopping Online, incl. “Fear to Disclose Information about Bank Accounts and Cards”, in % of Internet Users, December 2015
7. Middle East & Africa
7.1. UAE
Share of Payment Card Users Who Experienced Online Credit Card Fraud, in %, and Type of Online Credit Card Fraud Experienced, in % of Fraud Victims, June 2016
7.2. Iran
Top 5 Reasons for Not Shopping Online, in % of Respondents, 2012 & January 2016
7.3. South Africa
Key Drivers for Online Shopping, incl. “Safer Ways to Pay”, in % of Online Shoppers, 2014
7.4. Morocco
Breakdown of Main Criteria Considered When Shopping Online, incl. “Payment Security”, in % of Online Shoppers, February 2016

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