Some of Visa's key recommendations for consumers to engage in safe online shopping practices include that shop at well-known eCommerce sites, avoid using public WiFi for transactions, look for the 's' after 'http' in website addresses to confirm that a site offers (SSL) protection, activate Verified by Visa with your bank to secure online payments; log out whenever you leave a website and never share your personal account information on social media, over email, phone or chat.
According to Survey in terms of online payments, cards are the preferred payment method for 50 percent of respondents, while 42 percent prefer to pay cash on delivery (COD) when shopping online. COD drivers include the easier track-record of spends and avoid paying additional fees and charges associated with using cards although the method does not offer any benefits, rewards, or discounts as compared to the use of cards.
According to the survey, 85 percent respondent consumers are likely to be more open to making online payments using their card if they had the guarantee that their data is secure and 88 percent if they had they guarantee of a quick refund in case they wanted to return an item or had not received it. The State Bank of Pakistan's statistics showed that the number of debit cards stands at 23.9 million in Pakistan followed by credit cards with 1.6 million users and prepaid cards with 0.2 million users.
The survey said that the most common type of cards used by online shoppers is debit cards (64 percent), followed by credit cards (55 percent), and prepaid cards (6 percent). The survey findings claimed that 32 percent of respondents are aware of QR Code Payments and 18 percent have used it. Among online shoppers, 27 percent have used the QR solution and likeability increases to 88 percent, whereas, among current users of QR payments, likeability increases to 94 percent.
Furthermore, 87 percent of respondents first introduced to QR payments consider it secure, while 79 percent intend to use the payment method in the near future. The survey reveals that factors such as more education on the usage of QR payments and reassurance from bank on its security aspects is required to elevate consumers' interest in adopting QR payments.
It also reveals that majority of online shoppers (52 percent) prefer to shop from well-known eCommerce sites, while 55 percent prefer to shop from domestic sites over international eCommerce sites. Pakistani consumers mostly purchase clothes, restaurant orders, groceries, and electronic goods when shopping online. The main drivers for shopping online are that convenient, option to compare prices and safer and more reliable. While, the main barriers are concerned with difference in product online versus delivery, cannot inspect the item before purchasing and concerned about the delivery.
Kamil Khan, Country Manager for Visa in Pakistan has said that at a time when businesses and consumers are becoming more digital and the impact of new technologies is felt by everyone everywhere, security must remain at the forefront.