Tag: merchant broker

In an international survey, 2Checkout.com investigated over 1K customers across 130 nations and it came out that; consumers worldwide care about safety and privacy when purchasing items over the internet.

In fact, they are likely to desert a shopping cart because they’ve decided otherwise about the item than due to reasons like the absence of their preferred payment avenue or extended shipping times.

The ecommerce payment enabler’sstudy, titled The Online Shopper Behavior Survey went down between May and July and released the findings just a few weeks ago.

Here are some of the leading causes of cart desertion per the findings of the study;

• Mind-change is the main cause of cart desertion at about at 40%.
• Unanticipated charges during checkout is reason number two at37%.
• Inadequate details about the product or service is also a common cause of abandonment at 31%.
• The lack of a favored means of payment is also a concern among 27% of shoppers.

According to the researcher, though merchants cannot do much about a mind-change, they can take steps to reduce abandonment rates triggered by other reasons.

“The interviewed consumers cited that cart desertion can be reduced by (1) giving discounts (favored by 39 percent) or (2) the use of follow-up messages (suggested by 35 percent),” said 2Checkout.com during the announcement of the findings.

More studies sought to understand the significance of security matters to shoppers all over the globe.

 Here are the leading security concerns among online customer;

• Data safety is concern number one at 76%,
• Brand reputation and reasonable policies is concern number two at 70%.
• And the presence of a favored payment method follows closely at 69%.

When asked about their favored payment avenues, the interviewees responded as follows;

• Credit &debit cards is the most favored, used by 63%
• PayPal is the second-best preferred by 40 percent; and
• Cash still plays a key role at 16 percent

Final Words

Headlines of cyber-attacks reporting loss of millions of customer data— for example the attack on Equifax, a credit reporting firm, that exposed over 148 million customer records— are a major contributor to the rising security concerns among shoppers.

A secure ecommerce journey interaction matters to customers because of the effects of a successful breach can be as detrimental as loss of finances.

Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated merchant account provider in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.