BeyondTrust experiences record growth, signif... » PHOENIX: BeyondTrust has announced record growth in 2015 with a significant revenue increase, hundre... Imprimerie Nationale joins the Secure Identity A... » Paris: Imprimerie Nationale has joined the EEIG Secure Identity Alliance (SIA) as a member of the Bo... $10 billion pledged at Syria conference must sup... » London: Peacebuilding charity International Alert welcomes the commitment from world leaders at toda... Time for Nigeria's King Herod to imbibe the virt... » “Justice is the constant and perpetual wish to render to everyone his due’’ – Emperor Justinian I (c... LOCKEN PICKS UP ESB GROUP INNOVATION AWARD » ESB Telecoms Ltd has named their LOCKEN Access System for an award in the category “Application of T... Opengear announces new resilience gateway models ... » Sandy, UT: Opengear has announced the introduction of four new models into its award-winning Resilie... ISPCC Childline and Vodafone Ireland Foundation ... » Working to Keep Children Safe by Keeping Them Connected 4th February 2016 ISPCC Childline and the ... Energy sector IT professionals lack visibility int... » London, UK: Tripwire, Inc. has announced the results of a study conducted for Tripwire by Dimensiona... World leaders in London must put local peacebuildi... » World leaders gathering in London for the high-level conference on “Supporting Syria and the Region”... Imprimerie Nationale joins the Secure Identity A... » Paris: Imprimerie Nationale has joined the EEIG Secure Identity Alliance (SIA) as a member of the Bo...

CLICK HERE TO

Advertise with Vigilance

Got News?

Got news for Vigilance?

Have you got news/articles for us? We welcome news stories and articles from security experts, intelligence analysts, industry players, security correspondents in the main stream media and our numerous readers across the globe.

READ MORE

Subscribe to Vigilance Weekly

Information Security Header

· 71% of UK consumers have purchased online in the last 12 months – 2nd highest rate in Europe

· 80% of UK businesses surveyed wish to eliminate fraud altogether

· Only 22% of UK businesses happy to rely on shopper authentication such as 3-D Secure

London: Ogone, an Ingenico company and leading global online payment services provider has unveiled new research announcing continued growth in European online and mobile payment markets. Comparing five major EU territories: - the UK; Germany; France; Belgium and The Netherlands, payments specialist Ogone’s new report entitled 'Online & mobile payments: New opportunities & threats' explores differing regional and cultural attitudes towards online and mobile transactions, as well as the use of fraud management and prevention tools by ecommerce businesses.

 

The UK retailer commitment to online commerce growsAccording to a recent European Commission report, the UK had the second highest rates of online sales with around three quarters of consumers (71%) purchasing something online in the last 12 months. That compares to The Netherlands (which was top with 74%); Germany (63%); France (58%) and Belgium (44%).

Mobile is definitely providing the impetus for increase of e-commerce. The growth of mobile-commerce is buoyant in the UK: 12% of all e-sales were made with a mobile phone, tripling from 4% in 2011, and 0.9% in 2010.

Fraud prevention: varying attitudes and practices across Europe

With the continued growth in ecommerce and ever evolving fraud patterns, most ecommerce businesses rely on fraud prevention strategies in order to protect against attacks and maintain and secure sales. However, a worrying 14% across those surveyed in Europe by Ogone had no specific fraud management process in place.

According to the Ogone research, in the UK, ecommerce businesses aspire to complete fraud prevention rather than pragmatism. 80% of UK e-Commerce businesses surveyed were clear that their aim was to eliminate fraud altogether.

Julian Wallis, Head of Sales in the UK and Ireland at Ogone said: “With the increased opportunity of e-commerce comes the inevitable increased threat of fraud and security issues. Our research shows that in the UK, the attitude towards introducing effective online fraud prevention measures are taken very seriously. UK ecommerce businesses see that hard-earned profits are, of course, impacted by the existence of online fraud. Any ecommerce business wishing to sell their products internationally needs to ensure they are properly protected against payment fraud”.

Only 22% of UK businesses surveyed were happy to rely on shopper authentication such as 3-D Secure (a facility which verifies authenticity by initiating a redirection to the website of Bank/credit card company that issued the card). 34% wanted a fraud management tool that covers the main liabilities, but accepted they may be vulnerable to more complex fraud. As the most fraud conscious Europeans surveyed, 37% of those UK businesses surveyed wanted “the most comprehensive fraud management tool possible to protect my business from complex fraud” This was around double of those in Belgium (18%); France (18%); and Germany (29%) and more than ten times those surveyed in the Netherlands.