Fraud and Security in Global Online Payments 2016 code:1282

OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Australia, Brazil, Canada, Chile, China, France, Germany, Greece, India, Iran, Japan, Mexico, Morocco, Peru, Russia, South Africa, South Korea, Spain, Taiwan, UAE, UK, USA
Pages: 66
Publication Date: 12/10/2016
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Questions Covered in the report:
  • How large will the volume of online payment fraud be in 2020?
  • Which important trends and innovations emerge in online payment fraud?
  • How significant is payment security to online shoppers worldwide?
  • Do security concerns affect the online shoppers’ choice of payment methods?
  • Which role does security play in the adoption of mobile payments in various countries?

Key findings:

Security concerns affect online shoppers’ choice of payment methods

Card-not-present transactions are a major source of payment fraud worldwide. According to a forecast cited in the new report from yStats.com, global online payment fraud is growing at double-digit rates, with online retail contributing around two-thirds of the total volume. These developments spur the search for new and better ways to secure online and mobile payment transactions, resulting in multiple innovations among which biometric authentication is the current top highlight.

Security concerns affect the choice of online payment methods by consumers as well as their overall willingness to shop online, according to yStats.com’s research findings. In countries such as Germany and Spain, security is the aspect of payment methods most important to online shoppers, and also in the USA the majority of digital buyers choose security over speed for online payment transactions. Moreover, in Brazil, India and other countries concern over safety of financial information is among the top reasons preventing Internet users from shopping online.

Security is also key to the adoption of innovative payment methods, such as mobile payments. Data privacy and security were indicated as the top two criteria for evaluating new payment methods by consumers in France, Germany, the UK and the USA, as a 2015 survey cited in the yStats.com report shows. Worldwide, more than 50% of respondents had concerns about safety of their information when using 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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