Europe Online Payment Fraud and Security 2022

E-Commerce Trends in Europe shift as Fraudulent Activities Increase

Fraudulent digital banking transactions in many different forms are more frequent across Europe

As online payment transactions become more numerous, so do the forms of potential fraudulent activities. B2C E-Commerce losses due to online payment fraud were expected to increase by over 10% worldwide in 2021. Card fraud in E-Commerce comprises more than two-thirds of all card fraud in the UK, and many institutions are implementing increased online security precautions to address consumer concerns. For example, payment habits in the UK and Germany have been influenced by this need for more security and its lack of security discourages many Spanish shoppers from making purchases on social networks.

Online-payment-related fraud on the rise

Losses incurred from online payment fraud are on the rise worldwide and are projected to have more than doubled in the five-year span between 2018 and 2023. In the European region, and most prominently in the UK, consumers are altering their payment habits post-COVID-19 in search of greater security. In Germany, two out of every three of E-Commerce companies has identified a noticeable rise in fraudulent activities. Over 85% of online retailers in Switzerland reported having been victims of fraud.

Questions Covered in the report:

• What are the top reasons behind changes in payment habits in several countries in Europe amid COVID-19?
• How large are the losses to fraudulent online payment activities in the European E-Commerce market?
• How important is the consideration of online payment security to digital buyers in Europe?
• Which preventative measures are being taken against online payment fraud, globally and in the UK?
• What are the different types of fraud experienced by the various countries in Europe?

Countries Covered:

• Austria
• France
• Germany
• Italy
• Spain
• Switzerland
• United Kingdom