Security of e-payments is key concern for small and medium companies

Paysafe launched a report entitled Lost in Transaction: The Future of Payments for small and medium-sized businesses (SMBs), an international research investigating the attitudes of businesses in the UK, US, Canada, Germany and Austria to the evolution of payment types. According to the report, more than 52% of online SMBs worry that the move to frictionless payments, such as transactions that take place in apps, is leaving them more exposed to fraud and will negatively impact revenues. These businesses evaluate that security is the most important factor when considering their e-commerce plans. Abandoned transactions are also a source of concern. Around 9% of purchases is not completed. While 28% believe this reflects successful fraud checks, 33% say abandoned transactions have a major impact on business performance, and 15% believe purchases are abandoned purely because of a lack of payment options at the checkout phase.