Online shopper – More Flexible and Secure

Leading payment gateways recognise that not all consumers are created equal – consumers want to enjoy a host of payment methods.

In a turbulent 2016 for the consumer, it’s the online shopper that may have escaped with the least scars, as the online environment has become more flexible and secure. While the estimated R8.9 billion spent annually online in South Africa may not be on a par with the UK or USA, things are changing as demographics and perceptions shift.

Karen Nadasen, PayU South Africa CEO, says: “eCommerce growth is being driven by an increasingly sophisticated consumer market which values the convenience of online shopping and recognises the layers of security that surround online payment solutions. Our business, for example, has witnessed a 15% increase in volumes over and above our projected year-on-year increase for November – largely thanks to Black Friday and Cyber Monday. We have also seen a 76% decrease in the number of chargebacks processed in 2016 versus 2015, through effective fraud monitoring tools.”

According to a survey undertaken by Urban Studies for the South African Council of Shopping Centres, security, especially around credit cards, was a major concern in 2013, but this has reduced significantly over the past three years. The survey found that credit card security had dropped from the second biggest issue in 2013 to one of the lowest in 2016. Now, the primary consumer concerns are being unable to touch or see a product and uncertainty around quality and size.

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Last modified onFriday, 26 May 2017 06:58

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