Over a fourth (28%) of Egyptian consumers would rather switch retailers or shop in-store than wait if there were delays in completing their online purchase, according to the 2021 Stay Secure survey released by world leader in digital payments, Visa, as part of its first Stay Secure consumer education campaign in Egypt.
The survey indicates that as Egyptian consumers have become increasingly savvy about paying digitally, their expectations for both in-store and eCommerce payment experiences have skyrocketed. One in two consumers said they would not complete a purchase at a store that did not offer contactless payment options. When shopping online, over a third (37%) of consumers surveyed will drop the idea of purchasing the product for the time being if they experience a delay or authentication error. eCommerce sites that offer customer reviews (55%), seamless refunds (49%), payment options in local currency (39%), chatbots (36%) and a variety of payment options (30%) performed better in building high levels of consumer trust.
As consumer awareness of underlying security technology protecting digital payments has increased, four in five consumers (84%) feel secure about storing their card information on merchant sites if this helps to improve or speed up their shopping experience. The survey also showed that the majority of consumers (76%) continue to shop online with no signs of slowing down, while 34% said they are shopping less in stores despite the easing of lockdown restrictions.
Malak El-Baba, Visa’s Country Manager for Egypt, commented, “Consumers in Egypt are very savvy and will not settle for a shopping experience that does not match their expectations. Merchants need to recognize this and our survey provides them with actionable insights that can help them combat fraud and ensure consumers feel safe when transacting with them. The 2021 Stay Secure survey also outlines steps merchants can take to improve…