Many customers abandoning online transactions due to security checks
Posted by Rachel Fielding in Technology on Thu, 08/12/2011 - 01:02
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Time-consuming security checks are forcing customers to abandon online retail transactions and take to the competition, a new study has found.
A study commissioned by Experian in conjunction with the International Fraud Prevention Research Centre, found that lengthy identity and security procedures continue to be a source of frustration for consumers, and a cause of lost business for online retailers and other service providers.
Customers are prepared to spend four minutes on average undergoing identity verification and other security checks before they abandon an online retail transaction; 44% of respondents said they had abandoned an online shopping transaction because the checks were taking too long and a similar proportion admitted turning to a competitor after becoming frustrated with lengthy procedures.
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