
08:04 8th July 2011
The number of consumers buying online depends on good word of mouth, according to Michael Norton, managing director, PayPoint.net.
There is a "real trade-off" between convenience and security, he said.
"The most secure way [for people to shop online] is to ask people to type in their full card number, security code and their verified password. But that's inconvenient for people on the go," he explained.
The expert went on to say that the real issue is a question of trust. Mr Norton said that if potential clients see people they trust using particular retailers' apps without issues, they’re more inclined to use them themselves.
"It's imperative that retailers secure their customers’ trust in these new ways of shopping," he added.
His comments emerged as online fraud will rebound after two years of steady decline and grow 18 per cent (£30 million) to £195.3 million by 2015, driven by mobile and social media shopping, according to research by PayPoint.net.
Posted by Hannah James
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