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Jun 3, 2009

68% of Online Retailers Admit Payment Fraud Threatens Business Growth

UK firm Sage Pay released the results of an online survey Tuesday, in which 1,000 respondents indicated the following:

  • 68% of online retailers admit payment fraud is the most daunting aspect of running an online business
  • 75% plan to invest in growing their online business in 2009

The most surprising finding, in my opinion, was this: 50% of respondents agree with the statement, "I'm not sure who is responsible for covering the implications of online payments fraud committed on my site."

E-commerce site owners seem aware that fraud exists and also that it is a big problem... yet they aren't quite sure how to deal with it, or even who is responsible for dealing with it. Read this article on payment gateway solutions for a few tips on fraud prevention.

For more information on Sage Pay and PCI DSS Compliance, visit SagePay.com.
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