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Digital Identity, Security & Online Fraud

Fraud is a top payment priority for merchants – study

Friday 27 May 2016 | 10:22 AM CET

2016 Global Payments Survey has released comprehensive results related to the top payments priorities among payment professionals and merchants.

The 2016 Global Payments Survey was conducted by the Merchant Risk Council (MRC), in partnership with CyberSource. The report draws conclusions from a survey involving MRC and non-MRC merchants in North America, Europe and Asia Pacific countries who were asked about their payments experience and management practices.

The results of this survey show that MRC merchant members support twice as many payment types (14 average) as non‐MRC merchants (7 average). Top payment priorities for MRC merchants are: fraud, IT constraints, system changes and integration, cost of payment and checkout conversion rate. Also, MRC members are more likely to be focused on order conversion and payment success.

The results concluded the checkout conversion rates for all payment methods consistently averaged 65%. Also, the top ecommerce markets rank similar to 2015 with China, Japan, Russia and Mexico joining the top 12 global markets.

The study also reveals that only 14% of Canadian merchants, 18% of US merchants, 40% of UK merchants, 45% of French merchants and 46% of German merchants are utilizing 3D Secure. 3D Secure is not widely used due to friction concerns.

MRC’s 2016 Global Payments Survey offers members the ability to analyze systems, policies and results against merchants in different regions and markets, providing a set of comparison points to help measure and optimize their business.

More: Link
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