Four in five consumers would spend more online
if they were offered an easier and more secure way to pay, research
by Javelin has found.
The study conducted by Javelin Strategy &
Research and PaymentOne also found that by a margin of 4 to 1,
consumers believe direct carrier-billed mobile payments are more
secure than using credit and debit cards for online digital
purchases.
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The Javelin survey found that online merchants
could add aggregated yearly revenue of $109.8b, simply by offering
alternative ways to pay at the checkout.
2000 US consumers polled during September 2011
said they had growing concerns regarding the safety and privacy of
using credit or debit cards for online transactions, with more than
half admitting that they abandoned their online purchases at
check-out because of these concerns – equating to a huge loss in
potential revenue for online merchants.
Phil Blank, managing director at Javelin
Strategy & Research said:
“If digital merchants simply offered consumers
an alternative way to pay, such as mobile carrier-based payments,
79% of consumers indicated they would spend more, driving
significant new incremental revenue from subscriptions,
transactions and purchases. With an estimated $110bn in new revenue
for digital merchants being left on the table each year in the US
alone, this ‘commerce gap’ represents a massive untapped
opportunity.”
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