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A Reality Check For Online Shoppers

May 26, 2017 Statistics & Trends No Comments Email Email

Online shopping is getting increasingly popular among Hong Kong consumers. According to the latest Mastercard Online Shopping Survey, 88 percent of consumers in Hong Kong made at least one purchase online in the previous three months, yet 37.4 percent are still wary of online shopping security. In reality, however, electronic payments offer much more protection than you might realize.

Another Mastercard study revealed that even though a sizeable number of Hong Kong consumers feel concerned about the safety of online shopping and cashless payments, only a tiny fraction of them have had negative experiences, showing a significant perception gap among Hongkongers regarding online payments.

Perception vs. Reality

  • 29% worried that their payments identities may be stolen. In fact, only 4% have ever encountered it.
  • 15% concerned about their goods going missing. In reality, only 5% have had this experience.
  • 15% distressed over getting charged for something they didn’t buy. In fact, only 2% have encountered such an experience.
  • 14% feared that they will get overcharged. In reality, only 7% have experienced this.

Three reasons to shop with payment cards
You are actually in safe hands when paying with payment cards. Here are the reasons:

  1. Controllable
    Cards give shoppers not only convenience, but also control. Unlike cash, which when misplaced or lost is irretrievable, payment cards can be cancelled and replaced swiftly and remotely.
  2. Trackable and recordable

You will always have an electronic trail of your expenses when paying with cards. Need a receipt to check against or proof of being over-charged? Not a problem. You can check your transaction histories which track where payments start to where they end up.

  1. Convenience and security

Should you be shopping on overseas websites, cards offer the most convenient method to pay as well as giving you all the security and protection listed above. Moreover, banks and card issuing institutions continue to invest in new technologies and platforms to make your online shopping experience better and more secure every day.

Check out the summarized facts in the infographics attached and enjoy online shopping with cashless payments!

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