THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
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

GENERAL MERCHANDISE

UK E-tailers cite transaction costs as biggest frustration

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.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing