According to new research from payments and financial technology provider payabl., Brits are the least forgiving when it comes to long checkout processes, with many claiming they would rather remove fraud prevention checks to complete a transaction faster.
payabl. conducted surveys across three European countries: the UK, Germany and the Netherlands to understand consumer frustrations with checkout processes. While UK respondents proved to be more easily frustrated, the survey responses revealed almost half (43 per cent) of all shoppers across the three markets would not return to a retailer if they had a poor online checkout experience.
All markets shared frustrations with poor checkout processes too. Twenty-nine per cent of German shoppers, 36 per cent of Dutch shoppers and 44 per cent of UK shoppers agreed they did not have the patience for a cumbersome checkout process, with the respondents admitting to abandoning their online shopping baskets.
Varying priorities
Overall, 71 per cent of European consumers say fraud protection is non-negotiable and want it in place to safeguard their online purchases.
However, when it came to speed vs protection, shoppers from Germany and the Netherlands were in favour of a secure checkout, while many UK respondents indicated they would rather have a quicker checkout process. Twenty-five per cent of UK shoppers stated they are happy to let any online retailer store their payment details if it in turn makes the checkout process easier. Meanwhile, only 15 per cent of Germans and 16 per cent of Dutch respondents said the same.
Additionally, payabl. found that a third (32 per cent) of UK shoppers are prepared to have some online fraud protections removed in order to get a faster checkout process, while a quarter (25 per cent) would be happy to remove fraud protection checks entirely to get the fastest checkout experience. This is in stark contrast to German (12 per cent) and Dutch (17 per cent) shoppers who are far less prepared to compromise on the security of their payments.
The results underline the importance for UK shoppers of speed and convenience when shopping online, while also providing insights into areas which consumers are prepared to change their behaviour or compromise on in order to get the experience they desire.
Ugne Buraciene, group CEO at payabl., said: “UK consumers are driving demand for fast, efficient payments and have the lowest tolerance for friction, abandoning purchases more readily than shoppers in other parts of Europe.
“This demand for frictionless checkouts is influencing the views of shoppers when it comes to storing their payment details online and their willingness to forgo security checks. The UK has taken action in recent years to increase protections against fraud losses, with consumers now the most likely across major markets to be reimbursed. These protections may be influencing consumer attitudes and making fraud feel like less of a risk than in other countries.
Merchants’ response
Despite this willingness among many UK shoppers to reduce security and save payment details with any retailer, merchants and e-commerce platforms still have a duty to protect their customers from risk.
In 2023, the UK experienced over £1.17billion in fraud losses, with a significant portion stemming from e-commerce, where criminals stole over £360.5million through remote purchases, a type of fraud that relies on criminals acquiring card details through data theft such as breaches, phishing emails and scam text messages.
This highlights the ongoing challenge for merchants and e-commerce platforms in the UK in balancing the demands of shoppers for fast, convenient checkout experiences without compromising on the systems that will keep payment details safe and ensure robust checks before payments are authorised.
Buraciene continued: “Merchants have the difficult challenge of balancing speed and convenience with robust security that will keep consumers safe. It’s imperative that they work with trusted payment providers to prevent fraud without adding unnecessary friction, helping ensure these shoppers become repeat customers.”
Gary Munro, CTO at Consult Hyperion, said: “The UK consumer has taken to e-commerce like a fish to water, and while it’s good news for merchants in many respects, when the checkout experience is poor, UK consumers are less likely to return.
“Speed and convenience trump all else for many, with security expected without introducing any friction. Providing robust security and fraud protections remain table stakes for serving UK consumers well, with regulators focused firmly on the role of industry players in keeping shoppers safe.
“A merchant must either deal with these competing priorities themselves, or realistically, partner with a payment provider who knows the different market needs and can help them optimise their payments experience.”
