A new study has shown that customers are prepared to spend
four minutes on average undergoing identity verification and other security
checks before they abandon an online retail transaction.
The research commissioned by Experian, the global
information services company, in conjunction with the International Fraud
Prevention Research Centre revealed the extent to which time-consuming 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.
44% respondents said they had abandoned an online shopping transaction because the checks were taking too long while 43% admitted turning to a competitor after becoming frustrated with lengthy procedures.
A new study has shown that customers are prepared to spend
four minutes on average undergoing identity verification and other security
checks before they abandon an online retail transaction.
The research commissioned by Experian, the global
information services company, in conjunction with the International Fraud
Prevention Research Centre revealed the extent to which time-consuming 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.
44% respondents said they had abandoned an online shopping transaction because the checks were taking too long while 43% admitted turning to a competitor after becoming frustrated with lengthy procedures.
A new study has shown that customers are prepared to spend
four minutes on average undergoing identity verification and other security
checks before they abandon an online retail transaction.
The research commissioned by Experian, the global
information services company, in conjunction with the International Fraud
Prevention Research Centre revealed the extent to which time-consuming 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.
44% respondents said they had abandoned an online shopping transaction because the checks were taking too long while 43% admitted turning to a competitor after becoming frustrated with lengthy procedures.