According to the Visa e-Commerce Consumer Monitor Research 2012 study, 97 percent of respondents had browsed online for products and services over the last 12 months, and 71 percent successfully made an online transaction.
Revealed by the study another primary factor that drove the increase in online shopping activity is the improved consumer perception of online security. 6 out of 10 respondents said that their frequency of online shopping increased due to significant improvements in security as compared to two years ago. This was attributed to the protection of personal and financial data by their bank, as well as online security features like Verified by Visa and regular communication from banks on added security features.
The online survey, which showed online payment attitudes and behavior, involved 8,000 consumers in eight locations including Hong Kong, Korea, Japan, Singapore,Vietnam, Russia, Philippines and South Africa. The respondents were Internet users, who logged online at least once a week, with ages from 18 to 55 years old.
Payment cards were cited as the top method for online payments by (68 percent) of respondents, with credit cards (42 percent) being used more than debit cards (34 percent). The use of payment cards allow cardholders to enjoy simple transactions, especially when making overseas purchases online, particularly in the United States.
In countries with higher mobile phone and tablet penetration, the trend is shifting towards device-based purchases. Most respondents surveyed (32 percent) browsed online for products or services via a mobile phone or tablet device last year.
Digital content was the most browsed item on mobile phones at 40 percent, followed by personal electronics (33 percent) and household electronics (30 percent).