Ninety percent of companies report having had some kind of collection problem or fraud.
Safetpay recently participated in the Aragon Online Stores Fair. According to the company, payment security is one of the biggest concerns for online businesses operating in Spain. Ninety percent of the online stores that participated in the Fair admitted to having experienced some type of payment security problem, according to Safetpay, a secure and global online payment system. Another problem, according to the online stores, is that millions of potential customers do not make online purchases for fear of providing their card number or bank details.
A large and diverse representation of the nearly 10,000 online stores that already operate regularly in Spain met at the Aragon Fair and agreed that payment security remains a major problem.
Julio García, General Manager of Safetpay in Spain and Portugal, explains that “90 percent of the online stores that participated in the Aragón Trade Fair reported having experienced some security issues with their payments, most of them related to fraud. Online retailers are demanding a solution to payment security, and at Safetpay we believe we have found the answer, as well as a very positive reception.”.
Another problem, according to online stores, is that customers are afraid to provide their credit card numbers or bank details online, which reduces sales potential. Furthermore, the average purchase value is high, around one hundred euros, and neither online stores nor customers want to take any risks.