Nearly 5 in 10 Singaporeans don't feel safe shopping online | Singapore Business Review
,Singapore
56 views

Nearly 5 in 10 Singaporeans don't feel safe shopping online

They need more secure and convenient payment methods.

According to the latest Mastercard Online Shopping Survey, online shopping has become an increasingly popular online activity compared to three years ago (75.4% vs 67.3%), with nearly all 18-24 year olds in Singapore (98.6%) having made an online purchase in the last 3 months. The survey was conducted online in November 2016 across 14 Asia Pacific countries.

Findings from the survey indicate that whilst 52.8% of Singaporeans feel secure shopping online, providing secure payment facilities (87.9%) remains one of the most critical to getting shoppers to make an online purchase. Additionally, the importance of having a convenient way to pay (88.7%) also resonates very strongly amongst consumers in Singapore, followed by the reputation of the website (86.5), price (86.3%) and delivery fees (85.9%).

“It is clear that consumers in Singapore have a strong appetite for online shopping and enhanced security and convenience is absolutely vital when making their purchase decisions. Securing all payments today and tomorrow remains a top priority for Mastercard,” said Deborah Heng, Country Manager of Mastercard Singapore.

Here’s more from Mastercard:

  • Secure shopping is a collective effort. While Mastercard together with industry players are committed to engineering seamless payment experiences, consumers too can play a part in ensuring their own payment safety by following these online shopping tips
  • Shop only on sites with a “lock” in your browser’s URL bar – this icon indicates that a site is secure.
  • To protect your confidential information from prying eyes, refrain from using public unsecured Wi-Fi to perform financial transactions · Track your purchases by monitoring your account activity online and checking statements. Any suspicious or unfamiliar transactions should be reported to a bank immediately. · Make sure your passwords are strong – at least eight characters and a combination of numbers and letters
  • Don’t use the same password with different online shops OR to log into your email
Get Singapore Business Review in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

All of its key businesses were profitable in the first six months of the year.
Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.
There seems to be a trend amongst workers looking to switch employers.
Total property income decreased by 4% but was offset by the decline in expenses. 
This is under the Special Situation Fund for Startups investment scheme. 
Called Project Nexus, the blueprint outlines how countries can integrate their retail payment systems onto a single cross-border network.
It plans to expand in the coming months, on the back of China’s economic recovery.
Funds will be used to modernise its portfolio.
Local financial firms are expected to remain resilient even should the economy slip into a recession again.
The Mapletree group of companies led the index on 28 July.