Cultivating Consumer Trust

To get ahead in the competitive ecommerce landscape, merchants have invested hugely to provide a seamless and frictionless user experience, with speed and convenience the main objective. The success of brands such as Amazon and Uber, which lead the way in user experience, suggests that consumers have embraced frictionless, one-click payments.

However, there has been a lot of recent press reports about whether online businesses compromise the security of consumers   to improve user experience.

If so, are consumers aware of this trade-off? It also makes us question if we have now gone too far, and whether consumers would actually welcome and feel more positive towards a brand with more visible security measures.

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Mobile is Key to Payment Security Woes

The promise of mobile commerce is a subject that we regularly cover in our blogs. The reason for this is quite simple. If current trends continue, it will become the dominant platform for digital commerce globally.

However, there remain significant barriers to universal adoption, especially around security concerns.

A poll carried out of US consumers earlier this summer showed that 64% of smartphone users not interested in making mobile payments said they didn’t want to store sensitive information on their phone, while 52% didn’t want to transmit such information to the merchant’s device.

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Paving the Way for m-Commerce Dominance

Mobile commerce (m-commerce) continues to be one of the fastest growing segments in retail commerce. A research published in the US this week suggests that 88% of mobile phone users make regular use of retail apps. 20% of all Starbucks in-store sales for example now come from mobile transactions.

In the UK, the picture is similar; IMRG reported that in 2014 40% of sales in the UK’s multi-billion pound online retail market came from mobile devices.

These figures are all part of a growing trend with year-on-year growth being reported, and is expected to continue as more consumers turn to mobile for their retail, banking and other every day needs.

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