Paysafecard study proves change in payment behaviour of Aussies
Paysafecard is still a popular choice for Australian Consumers
Since the pandemic’s beginning, Australian consumers’ shopping and payment behavior has changed profoundly – a new international study by Paysafe proves this. While Aussies were long considered cash fanatics, those days are now over: Aussies are increasingly buying and paying online.
At the same time, the leading payment platform, Paysafe, shows that these effects are likely to be long-term. For example, only just under half of Aussies say they will go back to shopping the way they used to when the pandemic is over.
Paysafecard is a good alternative in the leisure sector
As practical as online purchases and payments are – they also harbor great risks in some cases. For example, fraud and fraudulent transactions have increased sharply since the pandemic.
According to the Paysafe survey, 85 percent of businesses are concerned about this development. To counteract this development, payment providers are increasingly in demand. According to the study, Australian online shops expect high security and reliability from their payment providers.
Protection against fraud must be guaranteed. The so-called Paysafecard is a good and secure alternative for shoppers in the leisure sector. Customers do not have to provide personal data or bank or credit card information, which makes the payment process with Paysafecard very secure. In principle, customers pay with the Paysafecard just like with cash.
How does the Paysafecard work?
Paysafecard offers customers an enormous advantage: they do not have to disclose any personal data or account details. Especially in times of online scams and the like, such secure payment options are simply a must.
The Paysafecard is a type of prepaid card and electronic means of payment that is mainly used in new online casino customers or for micropayment. In principle, it can be used free of charge. However, sometimes fees may be charged. Paysafecard credits can be purchased at various points of sale, e.g., at the cash desk or in tobacconists, in 10 to 100 euros. However, you can also load the Paysafecard online.
After purchasing the credit, you will receive a 16-digit PIN code. You then enter this code at supported webshops and use it to pay. Well-known webshops that offer Paysafe are, for example, Amazon. When the credit is used up, the code becomes invalid. Of course, you can top up your credit if necessary.
Further findings of the Paysafe study
According to the latest Paysafe study, the security factor for online purchases is a critical issue, and payment providers should do their utmost to enhance security in the future further. With options such as the Paysafecard, this will also become increasingly successful in the future.
Australian online businesses are already noticing a trend toward online cash payments with eCash, viacash, or paysafecard. More than half of the Australian online shops indicate a significant increase in online cash payments.
Furthermore, 61 percent of online retailers now also offer the option of paying with paysafecard or eCash or plan to do so soon. In addition, 81 percent of the companies also increase other payment options. For example, digital wallets or mobile wallets are offered.
Particularly exciting: more and more online retailers also offer the option of paying with cryptocurrencies such as Bitcoin or are at least planning to do so. In addition to the security factor and the various payment options, the Paysafe study also revealed other interesting findings of Aussies’ purchasing and payment behavior: Abandoned purchases in online retailing have increased sharply.
More frequent purchase cancellations
The customer has already decided on the goods, has almost completed the ordering process, and then suddenly abort it – a phenomenon online shops already knew well before the pandemic. Last year, 53% of Australian online businesses confirmed frequent purchase cancellations. Italy and Australia, in particular, have seen a sharp increase in abandoned purchases. This puts the two countries ahead of the USA, where 46% of companies confirm that their website visitors abandon purchases.
Incidentally, frequently cited reasons for purchase cancellations on the part of customers are too high delivery costs or the desired payment method is not available.
According to the Paysafe survey, another challenge for online businesses is the congestion during the Christmas shopping season. More and more Aussies are now doing their Christmas shopping online.
Of course, this is also tempting because who wants to stand in line or fight their way through completely overcrowded shopping centers? However, 51 percent of Australian online businesses state that their shop has already been overloaded once, e.g., Black Friday or before Christmas.
Incidentally, the entrepreneurs assume that even more customers will buy their Christmas presents online this year than before the pandemic. Many customers now enjoy the many advantages of ordering online.