The volume of online payment fraud loss is on the rise worldwide, projected to more than double by 2023, compared to 2018. In Europe, online retailers in the two largest E-Commerce markets, the UK and Germany, report detection of an increasing number of fraud attempts. In the UK alone, more than one-half of card purchase fraud loss stemmed from E-Commerce as of last year. Consequently, digital buyers remain on their guard and, according to surveys cited in the yStats.com report, many would not purchase from an online store which they believe does not provide a sufficient level of payment security.

Payment Security Regulations to Transform E-Commerce Payments in Europe

The Strong Customer Authentication (SCA) requirements, to apply from September 2019 on, are expected to strengthen the safety of online purchase transactions. At the same time, the spotty level of readiness and awareness of these requirements among merchants and consumers could have a negative effect on the development of E-Commerce in Europe and lead to a considerable loss in economic activity at least in the first year after the regulations take effect.

For further information, see: https://www.ystats.com/wp-content/uploads/2019/07/2019.07.09_Product-Brochure-Order-Form_Europe-Online-Payment-Fraud-and-Security-2019.pdf

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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.

Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.

We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.