Global E-Commerce Still Dubs Payment Security a Concern

Hamburg, Germany, March 07, 2019 –(PR.com)– Yücel Yelken, the CEO & Founder of yStats.com, comments: “Around the globe, we see a greater incorporation of digital payment methods. However, sellers and consumers in E-Commerce are still largely concerned with online payment fraud, projected to generate a substantial and growing amount of losses through 2023.”

By 2023, losses due to online payment fraud to double
Despite the rapid growth in E-Commerce sales, fraud, in several countries, remains a hinderance. Fraud losses from online payments are projected to grow two-fold within the time frame between 2018 and 2023, according to yStats.com’s research. Considering this statement, buyers’ preferences lie with payment methods that they deem to have the highest level of security.

Online shoppers’ payment preferences differ
Mobile payments remotely and in-store are expected to grow in the region, according to figures cited in the yStats.com report. The sentiment in U.S. is that, compared to other payment methods, mobile payments are more efficient and faster. Nevertheless, security remains a concern for North American shoppers who contemplate paying with mobile.

Mobile wallets in focus
Mobile payment services are on the global upswing, with one in three connected consumers already using this functionality. These rates are the highest in Asia-Pacific. A recent statistic cited by yStats.com shows that in China, mobile payments are used by over a half a billion people.

For further information, see: https://www.ystats.com/wp-content/uploads/2019/03/2019.02.26_Product-Brochure-Order-Form_Global-Online-Payment-Methods-2019.pdf

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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world’s leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.

Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.

We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.