THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
UK E-tailers cite transaction costs as biggest frustration

68% of Online retailers believe payment charges and technical glitches are more of a problem to their business than fraud The high cost associated with payment… View Article

GENERAL MERCHANDISE NEWS

UK E-tailers cite transaction costs as biggest frustration

68% of Online retailers believe payment charges and technical glitches are more of a problem to their business than fraud

The high cost associated with payment acceptance charges has become the biggest single pressure point for UK e-commerce, ahead of website technical glitches and card fraud. At least, this is according to the E-Business Benchmark Report, an annual survey of over 2,000 UK-based internet retailers conducted by payments services provider, Sage Pay.

With payments fraud unexpectedly not making the top spot, the findings suggest that most online businesses are confident that they can keep fraud at bay.

Joe Robey, Sage Pay’s in-house Fraud Specialist, comments, “The findings demonstrate that payments fraud is no longer the number one concern for

online retailers. Merchants are becoming increasingly familiar with the tell tale signs associated with fraudulent activity and, provided they have the right tools and processes in place, they now have the confidence to tackle fraudulent activity and keep card crime at bay.”

This report correlates with findings from the British Retail Consortium (BRC), as it calls for the UK government to intervene and reduce payment card acceptance fees charged to retailers by the banks. Figures from the BRC show that accepting a payment by debit card costs the retailer 4 times more than if a customer uses cash to pay for a purchase. The report also identifies that the banks’ debit card handling charges have almost doubled in the past five years.

Subscribe For Retail News