ATLANTA, Oct. 15, 2015 (GLOBE NEWSWIRE) -- Amidst a shifting online payments landscape, consumers value accessibility and brand reputation most, and American shoppers in particular are more loyal than their global counterparts. According to new research from Worldpay1, 60 percent of Americans created or used an online account with a retailer in the last 12 months, which suggests convenience ranks top-of-mind for U.S. shoppers. In fact, 47 percent said they create online accounts because it is quicker and easier to shop.
Worldpay, a leader in global payments, has released its findings in the 2015 Online Payment Journey report, a survey of more than 3,500 consumers across North America, South America, EMEA and APAC, as well as an analysis of 350 top retail sites. Worldpay’s report examines the unique profiles and preferences of shoppers around the world, and how retailers are currently engaging with those shoppers.
“Consumers are the new point-of-sale, controlling when and where they shop, and how they pay,” said Worldpay US President and CEO Tony Catalfano. “To win the sale, retailers must deliver the buying experience their customers want, which is increasingly multi-channel and often starts at the homepage. Consumers will take their business to retailers that best cater to their preferences.”
Key U.S. findings include:
Online shoppers want to pay their way
U.S. shoppers want to know how they can pay from the homepage and seeing payment information clearly on a website has a strong influence on their decision to buy:
- Forty-eight percent of online shoppers say they would be more encouraged to buy when they see payments logos on the homepage.
- Sixty-four percent of shoppers would not continue the purchase if the payment methods displayed at the checkout were not consistent with those displayed on the homepage.
- More than one-third of shoppers (38 percent) would drop out of the checkout if a payment error occurred, and nearly half would abandon their purchase if asked for the same details more than once.
Sharing data policies can help boost customer confidence
Data protection is a top concern at nearly every stage of the online buying process for American consumers:
- Fifty percent of shoppers would be encouraged to create an online account if specifically told how their data may or may not be used by the retailer.
- A quarter (25 percent) of consumers surveyed said they would abandon a purchase over serious security concerns if redirected to a third-party site to complete the payment.
- Sixty-eight percent of those surveyed said the ability to see payment authentication and digital certificate logos makes them feel more secure.
Shoppers value informative updates, online support tools
While the majority of shoppers first seek out information about a purchase on the FAQ page, U.S. shoppers also rely on a wider variety of support tools:
- Nearly four in five (79 percent) shoppers in the U.S. said they read messages about what will happen next in the transaction, and 59 percent said this information is “very important” to them.
- The top three go-to sources for payment-related queries are: the FAQ section (60 percent), telephone customer service (43 percent) and live chat (38 percent).
- Seventy-six percent of consumers surveyed said it is “very important” to receive a confirmation email post-purchase.
For more information on adapting to consumers’ changing payments preferences, visit Worldpay at Money 20/20 in Las Vegas, Oct. 26-28, at booth #1511. To download a full copy of Worldpay’s Online Payment Journey report, go to onlinepaymentjourney.worldpay.com.
About Worldpay
Worldpay is a global payments technology leader that enables businesses to accept a vast array of payment types, across multiple channels, anywhere in the world. The Group has three operating divisions: global eCom, Worldpay US and Worldpay UK.
Worldpay US seamlessly integrates payments processing and inventory management, backed by detailed data analytics that help businesses make informed decisions to grow. The company offers payments acceptance functionality in-store, online and/or via mobile devices.
On an average day, Worldpay’s proprietary technology platforms process approximately 31 million transactions and in 2014 supported approximately 400,000 merchants in 126 currencies across 146 countries offering 326 local and alternative methods of payment. Our products and services are delivered by approximately 4,500 staff from our corporate headquarters in London and 25 offices in 11 countries around the world.
For more information, visit worldpay.com.
1 The research was carried out in partnership with KAE Marketing Intelligence Limited, who conducted a desktop analysis of 350 top retail sites and surveyed 3500 online shoppers in 14 countries across North America, South America, EMEA and APAC.