Understanding Our Online
Payment Insecurities

62%
Fear financial fraud on the internet

49%
of participants worldwide still encountered feelings of vulnerability regarding online transactions

42%
expressed that they were more likely to utilize online payment solutions if they felt they were protected from cybersecurity 
threats

37%
have admitted
to terminating
a financial operation midway due to lack of faith in the security of the transaction

Problem recognition
This occurs when there is a gap
between a consumer’s actual and desired situation.
This is where consumers identify their problems.

Information search
Consumers seek out answers to their questions. The answers and informationsearch depend on the complexity of choices and level of involvement.

Evaluate alternatives
This segment involves consumers searching for other solutions to their problems.

Purchase
Once the consumer has looked at all possible solutions, he/she will choose a method that is most appropriate according to his/her needs.

The Driving Forces
Behind Our Payment Fears

How Customers Can Protect Themselves

How Vendors Can
Earn Consumer Trust

Shop from secure sites
Look out for secure sites beginning with
https:// * instead of http://

*The “s” means that the site uses
a secure server that protects your information from hackers.

Use trust signals such as logos and trustmarks from external accreditors who will provide shoppers with the assurance that it’s safe to shop on your site. Some common ones include PayPal, ipay88, Visa and Mastercard.

Save your transaction records
Electronic receipts, e-mail confirmations and etc can help keep track of payment history. They also stand as key pieces of evidence should there be any disputes between you and the vendor.

Place these in strategic and visible locations on your website so that they are clearly visible and will eliminate any element of perceived fear.

Protect your computer
Firewalls and updated antivirus
softwares can protect your files
from hackers and can prevent identity thieves from nicking your personal information.

Include an SSL button and privacy policy on your website that clearly states how you use information collected from your customers.
Customers are more likely to trust you if they feel that you are being upfront with them about the safety of their information.

Stay away from free wifi for private activities
Stay away from free wifi for private activities such as online shopping, banking or financial transactions. People can potentially access your data that is being transmitted.

Establish a clear-cut refund policy. Giving shoppers the option of being able to return a purchase that they are dissatisfied with eases the fear of commitment.

Smart and Strong Passwords
Create smart passwords by incorporating numbers, symbols and both upper and lowercase letters.

Associate yourself with trusted and verified e-commerce platforms like iprice.There is
a reported 32% increase in conversion with the presence
of a visible trust badge on your site.

Build A Fort Around
Your Credit Card

Enjoy peace of mind knowing you have put up all possible defences for your credit card transactions.

SMS alerts
Set up an SMS alert every time a transaction is made on your credit card. You can choose and pre-set
a threshold amount for the alert too.

One-Time Password (OTP)
Set up a One-Time Password (OTP) to be sent to the registered mobile phone for online transactions.
This provides an additional layer of authentication during the transaction.

Threshold amount
Set a transaction limit with your bank so that anything above the set amount will not go through.

Credit card statement
Check your statement regularly
to look for any suspicious
or unknown transactions made.