The concerns are causing companies to leave money on the table, as they go to ever-greater lengths to prevent hacking attacks and Internet security breaches.
Retailers are so worried about fraudulent purchases online, many say they’re rejecting legitimate transactions out of fear that they may be fake.
Sixty-seven percent of retailers have online security measures that are quick to cancel any transaction that raises suspicion, according to a survey by Experian, a global information-services company. When gauging all businesses – a group that also includes banks and telecommunications companies – that figure rises to 71%.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
