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Europe Online Payment Fraud and Security 2019

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  • Fraud and Security in Global Online Payments 2019

Description

Countries Covered: Austria, France, Germany, Italy, Spain, Switzerland, UK

Pages: 62

Publication Date: 10/07/2019

Questions Covered in the report:
What are the top online payment fraud prevention trends in Europe and worldwide?
How are the Strong Customer Authentication requirements projected to affect the development of European digital payments?
How large are the online payment fraud losses in Europe’s largest E-Commerce market?
What measures are taken by online merchants in selected European markets to prevent payment fraud?
How important is the consideration of online payment security to digital buyers in Europe?

Key findings:

Europe Payment Fraud & Security Landscape Transforms Amidst Changing Regulation

Changing regulations to affect online payment security in Europe

E-Commerce merchants, banks and payment providers across the EU are preparing for the onset of the Strong Customer Authentication (SCA) requirements, to enter into force in September 2019. While these regulations are aimed at strengthening the security of online payment transactions, the industry participants voice a concern over the low levels of readiness and awareness on all sides of the digital payment flows. According to one estimate cited in the ySatts.com report, the market could lose billions of Euros in economic activity during the first year after the requirements take effect.

Security worries in E-Commerce payments remain strong

At the same time, online shoppers’ concern over the security of payment transactions in E-Commerce is still strong. More than two-thirds of digital buyers queried in a recent survey believed that there were not enough payment security checks in online shopping. The consumers’ worries are supported by industry data showing the rising volumes of card not present fraud, the yStats.com report reveals. In the UK, over one-half of all payment fraud stemmed from remote transactions, with a double-digit increase year-on-year. As a result, fraud prevention is expected to remain among the leading payment-related topics on E-Commerce merchants’ agenda for the next several years.

1. Management Summary

2. Global Developments

  • Overview of Online Payment Fraud Trends, May 2019
  • Online Payment Fraud Losses, in USD billion, 2018e & 2023f
  • Breakdown of Feelings Consumers Have Towards Card Transaction Declines in Online Shopping, in % of Online Shoppers, by Frequency of Online Shopping, July 2018
  • Breakdown of Most Important Factors in Consumers’ Online Experience, in % of Consumers, 2018
  • Share of Consumers Who Have More Confidence in a Business That Uses Physical Biometrics for Online Security, in %, 2018
  • Share of Respondents Who Would be Willing to Use Fingerprint or Other Biometric to Secure Their Payment Details, in %, 2018
  • Number of Remote Mobile Biometric Transactions, in billions, and Their Share of Total In-Store and Remote Transactions Authenticated via Mobile Biometrics, in %, 2018 & 2023f
  • Breakdown of The Perceived Level of Security of Blockchain Solutions Compared to Conventional IT Solutions, in % of Senior Executives, March 2019
  • Top 10 Blockchain Use Cases, in % of Senior Executives, 2018
  • Spending on Fraud Management Solutions, 2017 & 2023f

3. Europe

3.1. Regional

  • Overview of Strong Customer Authentication Requirements Under PSD2, April 2019
  • Overview of The Strong Customer Authentication Perceptions by Industry Participants, June 2019
  • E-Commerce Merchants’ Readiness to Support Strong Customer Authentication, in %, November 2018
  • Levels of Awareness and Preparation of E-Commerce Merchants to Strong Customer Authentication Requirements, by SMEs and Large Businesses, June 2019
  • Share of Consumers Who Are Unaware of the Strong Customer Authentication Requirements for Online Purchases, in %, June 2019
  • Share of Consumers Who Prefer One-time Passcodes for Authentication, Compared to Fingerprint Recognition, in %, June 2019
  • Barriers to Buying Online, in % of Online Shoppers, July 2018
  • Attitudes to Security of Online Shopping, incl. Payment-Related, in % of Online Shoppers, by Austria, Germany and the UK, April 2018

3.2. UK

  • E-Commerce Fraud Loss on UK-Issued Cards, in GBP million, and Share of Total Card Purchase Fraud Loss, in %, 2013 – 2018
  • Top 10 Reasons for Shopping Cart Abandonment, in % of Online Shoppers, 2018e
  • Breakdown of Consumers’ Perception of Whether They Currently Undergo Enough Security Checks When Making an Online Payment, in % of Consumers, 2018
  • Breakdown of the Preferred Way of Receiving a One-time Passcode to Verify a Payment Transaction, in % of Consumers, 2018
  • Share of Cross-Border E-Commerce Orders Rejected by UK Merchants Due to Suspected Fraud, in % of UK Merchants, 2018

3.3. Germany

  • Share of E-Commerce Merchants Who Faced Fraud or Fraud Attempts in Their Online Shops, in %, 2018
  • Perceived Development of Fraud and Fraud Attempts Over the Past Year, in % of E-Commerce Merchants, 2018
  • Types of Fraud and Fraud Attempts Faced by E-Commerce Merchants in Their Online Stores, in % of E-Commerce Merchants, 2018
  • Measures Taken by E-Commerce Merchants to Prevent Fraud in Their Online Stores, in % of E-Commerce Merchants, 2018
  • Breakdown of Usage of 3D Secure for Credit Card Payments, in % of E-Commerce Sellers, 2017 – 2019
  • Breakdown of the Perceived Change in Shopping Cart Abandonment Rates After Choosing Credit Card Payment as a Result of 3D Secure,  in % of E-Commerce Sellers Using 3D Secure, 2019
  • Breakdown of Importance of Payment Topics in Merchants’ Payment Strategy Until 2020, in % of E-Commerce Merchants, 2018
  • Breakdown of Attitude to Paying by Invoice, in % of Online Shoppers, April 2018
  • Most Trusted Mobile Payment Providers, in % of Consumers, August 2018

3.4. France

  • Top 5 Services and Obligations of E-Commerce Merchants in 2019 According to Online Shoppers, in % of Online Shoppers, December 2018
  • Preferred Biometric Authentication Methods in E-Commerce, in % of Online Shoppers, 2019
  • Breakdown of Main Barriers That Make Consumers Hesitant to Purchase Online, in %, by Total Population and Online Shoppers, June 2018
  • Share of 3D Secure Payments, in % of Online Card Payments, April 2011 – April 2018
  • Breakdown of Attitudes Towards Mobile Payments, in % of Internet Users, February 2018

3.5. Spain

  • Breakdown of Factors Most Important in Online Payment Methods, in % of Online Shoppers, October 2018

3.6. Italy

  • Fraudulent Transactions’ Share of E-Commerce Sales, in %, 2017

3.7. Austria

  • Share of Online Shoppers Who Fell Victim to Internet Fraud, in %, and Type of Fraud Experienced, in %, November 2018
  • Factors Taken into Account by Online Shoppers in Order to Avoid Fraud, in % of Online Shoppers, November 2018
  • Share of Online Shoppers Who Experienced Internet Fraud, in %, and Type of Fraud Experienced, in %, December 2018

3.8. Switzerland

  • Share of E-Commerce Merchants Who Faced Fraud or Fraud Attempts in Their Online Shops, in %, 2018
  • Perceived Development of Fraud and Fraud Attempts Over the Past Year, in % of E-Commerce Merchants, 2018
  • Types of Fraud and Fraud Attempts Faced by E-Commerce Merchants in Their Online Stores, in % of E-Commerce Merchants, 2018
  • Measures Taken by E-Commerce Merchants to Prevent Fraud in Their Online Stores, in % of E-Commerce Merchants, 2018
  • MasterCard Inc.
  • Visa Inc.

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