According to a recent survey 68 percent of
online retailers believe payment charges and technical glitches are
more of a problem to their business than fraud.
E-Business Benchmark Report, an annual survey
of over 2,000 UK-based internet retailers conducted by payments
services provider, Sage Pay revealed the high cost associated with
payment acceptance charges has become the biggest single pressure
point for UK ecommerce, ahead of website technical glitches and
With payments fraud unexpectedly not making
the top spot, the findings suggest that most online businesses are
confident that they can keep fraud at bay.
Joe Robey, Sage Pay’s in-house Fraud
Specialist comments, “The findings demonstrate that payments fraud
is no longer the number one concern for online retailers.
Merchants are becoming increasingly familiar with the tell tale
signs associated with fraudulent activity and, provided they have
the right tools and processes in place, they now have the
confidence to tackle fraudulent activity and keep card crime at
This report correlates with findings from the
British Retail Consortium (BRC) as it calls for the UK government
to intervene and reduce payment card acceptance fees charged to
retailers by the banks. Figures from the BRC show that
accepting a payment by debit card costs the retailer 4 times more
than if a customer uses cash to pay for a purchase. The
report also identifies that the banks debit card handling charges
have almost doubled in the last five years.
Other frustrations cited by internet retailers
in the E-Business Benchmark Report include losing customers during
the checkout process, 3D Secure and payment card industry data
compliance (PCI DSS).
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