E-commerce trends in Europe are changing as fraudulent activity increases

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DUBLIN, March 17, 2022 /PRNewswire/ — The “Europe Online Payment Fraud and Security 2022” report has been added to from ResearchAndMarkets.com offer.

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As online payment transactions become more numerous, the forms of potential fraudulent activity also increase. B2C e-commerce losses due to online payment fraud are expected to increase by more than 10% globally in 2021. Card fraud in e-commerce accounts for over two-thirds of all card fraud in the UK , and many institutions are implementing increased online security. precautions to address consumer concerns. For example, payment habits in the UK and Germany have been influenced by this need for more security and its lack of security discourages many Spanish shoppers from shopping on social media.

Online payment fraud on the rise

Losses from online payment fraud are on the rise worldwide and are expected to more than double in the five-year period between 2018 and 2023. In the European region, and especially in the UK, consumers are changing their payment habits after COVID-19 in search of greater security. In Germany, two out of three e-commerce businesses identified a noticeable increase in fraudulent activity. More than 85% of online retailers in Switzerland said they had been scammed.

Questions covered in the report:

  • What are the main reasons for changing payment habits in several countries of Europe in the midst of COVID-19?

  • How big is the loss due to fraudulent online payment activity in the European e-commerce market?

  • How important is consideration of online payment security for digital shoppers in Europe?

  • What preventative measures are taken against online payment fraud, globally and in the UK?

  • What are the different types of fraud experienced by different countries in Europe?

Main topics covered:

1. Management Summary

2. Global developments

  • Overview of online payment fraud trends, February 2022

  • Presentation and updates of payment authentication solutions, February 2022

  • Breakdown of Fraudulent Digital Banking Transactions, by Channel, incl. Mobile app, in %, Q3 2019 – Q2 2021

  • Value of B2C e-commerce losses due to online payment fraud, USD billion, 2020 and 2021e

  • Value of consumer losses from fraudulent robocalls, USD billion, 2021e and 2022f

  • Main factors important in consumers’ online experience, in % of consumers, September 2021

  • Number of users making online payments with facial recognition, in billions, 2020 and 2025f

  • Number of users who will confirm transactions with voice recognition, in millions, 2020 and 2025f

  • Attitudes towards interacting with online businesses, incl. Purchases, as % of adult consumers, January 2021

3. Regional

  • Reasons for changing payment habits during COVID-19, % of consumers, by Austria, Bulgaria, Germany, Italy and the UK, April 2021

  • Share of online retailers victims of fraud/attempted fraud in the last 12 months, in %, March 2021

4. United Kingdom

  • E-commerce fraud loss on cards issued in the UK, in millions of pounds sterling, and share of total card fraud, in %, 2015 – 2020

  • Value of losses due to fraud committed on a credit, debit or charge card issued in the UK, by location in the UK and internationally, in millions of pounds sterling, H1 2018 – H1 2021

  • Main reasons for changes in payment habits amid COVID-19, % of consumers, April 2021

  • Share of adult consumers who use more security steps when online, in %, January 2021

5. Germany

  • Share of e-commerce companies that said fraud had increased sharply/very strongly, in %, March 2021

  • Share of e-commerce businesses that said fraud had increased due to COVID-19, in %, March 2021

  • Top reasons why payment habits are changing amid COVID-19, % of consumers, April 2021

6. France

  • Most trusted payment methods, by level of trust, % of adults, October 2021

  • Risks of fraud in means of payment, by type and degree of importance, in % of adults, October 2021

  • Main situations of victim of fraud, by degree of fear, in % of adults, October 2021

7. Spain

8. Italy

9. Austria

  • Share of respondents who have been victims of Internet fraud, in %, November 2020

  • Main types of Internet fraud experienced, in % of respondents, November 2020

  • Main factors important when buying online, in % of respondents, September 2021

  • Main reasons why payment habits are changing during the COVID-19 pandemic, in % of consumers, April 2021

ten. Switzerland

Companies cited

For more information about this report visit https://www.researchandmarkets.com/r/ga2u0u

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