There’s no forgive or forget when it comes to eCommerce fraud.
To that end, merchants are on the hook for data security, for the trust that consumers place in them — not just to get the goods and services that they demand to them with speed, but to do it safely, too.
And in the Securing eCommerce Study conducted jointly between PYMNTS and NuData, the stark realities of what happens when that trust is breached become readily apparent.
Two-thirds of more than 2,300 consumers surveyed said they would be slightly or not at all likely to continue using a merchant after experiencing data theft or fraud — which means, of course, the merchant would be losing a sizable chunk of its user base and revenues.