American Express Survey Shows Digital Sales Increasing, Security Remains Top Concern for Consumers, Merchants

An American Express survey released today has found that advancements in payments security technology could be the most significant factor in growing ecommerce and mobile sales for merchants.

The survey found that 41 percent of consumers who have made more than three online purchases in the last year have abandoned an online payment because they did not feel their payment would be secure. And 73 percent of merchants reported that their level of fraudulent online sales has increased or remained the same over the last 12 months. However, among the 71 percent of merchants that have experienced a sales increase in online and mobile sales, 58 percent say that enhanced security features have had a very significant impact on their sales.

“Digital innovation is enabling consumers to buy from merchants when and where it’s most convenient for them,” says Mike Matan, Vice President, Industry Engagement, Product and Marketing, Global Network Business, American Express. “But the results of our survey show that for merchants to capitalize on consumers’ continued shift to online and mobile commerce, they need to provide their customers with the confidence that their information is secure.”

The survey found that digital payments are booming for merchants and consumers. 71 percent of merchants say digital sales are up, 81 percent of merchants say that online and mobile sales are the channels with the most growth potential, and nine in ten Americans now report making online purchases in the last year, the survey found. More than 70 percent of online shoppers say they have used digital payment solutions like mobile wallets and one-click checkout buttons, and 71 percent of merchants say that the proportion of goods sold through online and mobile channels has increased since last year.

The survey was conducted during May of 2017 across an overall sample of 1,020 respondents consisting of 775 consumers and 401 merchants. The consumer data has a margin of error of +/- 3.5. The merchant data has a margin of error of +/- 4.9.