European Online Payment Fraud and Security in 2022: E-Commerce Trends in Europe Shift as Fraudulent Activities Increase

News provided by

Mar 17, 2022, 13:45 ET

DUBLIN, March 17, 2022 /PRNewswire/ -- The "Europe Online Payment Fraud and Security 2022" report has been added to ResearchAndMarkets.com's offering.

As online payment transactions become more numerous, so do the forms of potential fraudulent activities. B2C E-Commerce losses due to online payment fraud were expected to increase by over 10% worldwide in 2021. Card fraud in E-Commerce comprises more than 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 making purchases on social networks.

Online-payment-related fraud on the rise

Losses incurred from online payment fraud are on the rise worldwide and are projected to have more than doubled in the five-year span between 2018 and 2023. In the European region, and most prominently in the UK, consumers are altering their payment habits post-COVID-19 in search of greater security. In Germany, two out of every three of E-Commerce companies has identified a noticeable rise in fraudulent activities. Over 85% of online retailers in Switzerland reported having been victims of fraud.

Questions Covered in the report:

What are the top reasons behind changes in payment habits in several countries in Europe amid COVID-19?
How large are the losses to fraudulent online payment activities in the European E-Commerce market?
How important is the consideration of online payment security to digital buyers in Europe?
Which preventative measures are being taken against online payment fraud, globally and in the UK?
What are the different types of fraud experienced by the various countries in Europe?

Key Topics Covered:

1. Management Summary

2. Global Developments

Overview of Online Payment Fraud Trends, February 2022
Overview and Updates of Payment Authentication Solutions, February 2022
Breakdown of Digital Banking Fraudulent Transactions, by Channel, incl. Mobile App, in %, Q3 2019 - Q2 2021
Value of B2C E-Commerce Losses to Online Payment Fraud, in USD billion, 2020 & 2021e
Value of Consumer Losses To Fraudulent Robocalls, in USD billion, 2021e & 2022f
Top Important Factors in Consumers' Online Experience, in % of Consumers, September 2021
Number of Users Making Online Payment With Facial Recognition, in billions, 2020 & 2025f
Number of Users Who Will Be Confirming Transactions With Voice Recognition, in millions, 2020 & 2025f
Attitudes Towards Interaction With Business Online, incl. Purchasing, in % of Adult Consumers, January 2021

3. Regional

Reasons for Changed Payment Habits During COVID-19, in % of Consumers, by Austria, Bulgaria, Germany, Italy and the UK, April 2021
Share of Online Retailers Who Experienced Fraud/Attempted Fraud in the Past 12 Months, in %, March 2021

4. UK

E-Commerce Fraud Loss on UK-Issued Cards, in GBP million, and Share of Total Card Fraud, in %, 2015 - 2020
Value of Fraud Losses Committed on a UK-Issued Credit, Debit or Charge Card, by UK and International Location, in GBP million, H1 2018 - H1 2021
Top Reasons For Changes in Payment Method Habits Changes Amid COVID-19, in % of Consumers, April 2021
Share of Adult Consumers Who Use More Security Steps While Online, in %, January 2021

5. Germany

Share of E-Commerce Companies Who Stated that Fraud Had Risen Sharply/Very Sharply, in %, March 2021
Share of E-Commerce Companies Who Stated That Fraud Had Risen Due To COVID-19, in %, March 2021
Top Reasons For Payment Method Habits Changes Amid COVID-19, in % of Consumers, April 2021

6. France

Most Trusted Payment Methods, by Degree of Confidence, in % of Adults, October 2021
Fraud Risks in Payment Methods, by Type, and by Importance Degree, in % of Adults, October 2021
Top Situations of Being a Victim of Fraud, by Degree of Fear, in % of Adults, October 2021

7. Spain

Breakdown of Reasons for Never Purchasing on a Social Network, in % of Online Shoppers, 2020 & 2021

8. Italy

Top Reasons For Payment Method Habits Changes Amid COVID-19, in % of Consumers, April 2021

9. Austria

Share of Respondents Who Have Been Victims of Internet Fraud, in %, November 2020
Top Internet Fraud Types Experienced, in % of Respondents, November 2020
Top Important Factors When Shopping Online, in % of Respondents, September 2021
Top Reasons For Payment Method Habits Changes Amid COVID-19 Pandemic, in % of Consumers, April 2021

10. Switzerland

Share of Online Retailers Who Have Been Affected by Fraud, in %, 2021

Companies Mentioned

American Express
Discover Financial Services
JCB
Mastercard Inc
UnionPay
Visa Inc

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

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets