*Two in three people feel safer handing over their credit card to a stranger in a pub than placing orders over the phone*
Daresbury, UK, September 8th 2005 - The latest research from leading fraud prevention provider eFunds Payment Solutions (www.efunds.com), formerly ClearCommerce Corporation, shows that two thirds of the British public think ordering over the phone is the most risky way to pay for goods and services. A staggering 63% of people questioned are worried about becoming a victim of fraud. Surprisingly, this fear factor even outweighs unease about handing over a credit or debit card at a restaurant or bar (57% net concern), where the card is physically removed from the customer’s view and is in reality probably more vulnerable to misuse.
The study, run by ICM (www.icmresearch.co.uk) on behalf of eFunds, shows widespread concern about the security of home shopping in general. Mail order shopping is mistrusted (52%) nearly as much as shopping online (53%). Anxiety about becoming a victim of fraud when paying for goods in person is also high. Newly introduced security measures such as Chip and Pin are apparently failing to dispel fears when people pay at checkouts, with 40% of the public still feeling vulnerable to fraudulent scams.
Alan Smith, eFunds Payment Solutions, comments: “The UK is the second largest player in a European home shopping market worth over £67 billion. As well as mail order and telephone order, new channels of distribution have rapidly opened up over the past few years, such as the Internet and TV shopping, with mobile phone shopping set to be the next big thing. With UK high street sales remaining weak over the summer, home shopping provides much opportunity for growth within the retail sector. Fundamental to this, however, is the ability to ensure that shopping online, by mail order or over the phone is absolutely safe.
“High profile stories about identity theft are constantly hitting the headlines, particularly around online fraud. The public remains extremely nervous about card-based payments and retailers must ensure they have the right anti-fraud detection solutions in place to protect consumers against scams and address their concerns.”
ICM Research interviewed a random sample of 1014 adults aged 18+ by telephone between 24-26 May 2005. Interviews were conducted across the country and the results have been weighted to the profile of all adults. ICM is a member of the British Polling Council and abides by its rules. Further information at www.icmresearch.co.uk
eFunds Corporation is an industry leader with nearly 30 years of experience and expertise in electronic payments and risk management. eFunds offers electronic funds transfer software and processing, risk management and related outsourcing solutions to financial institutions, electronic funds transfer networks, retailers, telecommunications providers, and government agencies around the world. Committed to providing excellent customer service and award-winning products, eFunds enables its clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with their customers.
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