Survey Finds Shoppers in Italy are frustrated with SCA and Merchants are Missing Out
For instance, in Italy nearly a quarter of orders subject to SCA are declined in part due to outdated technology, according to Signifyd transaction data. Furthermore, 42% of approved orders encounter significant friction caused by banks relying on the original 3D Secure version.
In the UK, 15% of SCA orders are declined and only 16% of approved orders are processed by the old technology. While in France only 12% of orders subject to SCA are declined and only 2.5% of orders are being subject to outdated 3D Secure technology.
Despite the disparity in the adoption of newer versions of 3D Secure by country, the experience reported by shoppers is universally discouraging for brands and merchants in the region. Fully half, 50%, of Italian consumers said they’d become frustrated enough to give up on a purchase. In France, 45 percent of consumers said the new rules had prevented them from buying something online. In the UK, 35% of respondents said they’d abandoned their online shopping carts out of frustration.
And if there were any questions about whether retailers lose customers to bad experiences, 58% of Italian consumers said they would not shop with a merchant again after one or two bad experiences. The number was identical in France, while in the UK 37% of respondents said one or two bad experiences would be enough to put them off for good.
Signifyd provides an end-to-end Commerce Protection Platform that leverages its Commerce Network to maximize conversion, automate customer experience and eliminate fraud and customer abuse for retailers. Signifyd counts among its customers a number of companies on the Fortune 1000 and Internet Retailer Top 500 lists. Signifyd is headquartered in San Jose, CA., with locations in Denver, New York, Mexico City, São Paulo, Belfast and London.