A survey of 350 online businesses by payment processing company PayPoint, has found that nearly all of the UK’s small online businesses believe that fraud is not their responsibility.
Some 99 percent of businesses surveyed believe liability for fraud lies with banks, credit card issuers and payment service providers.
Alessandro Hatami, managing director of PayPoint.net, says: “Small online businesses lack the resources of their larger competitors but have an even greater interest in ensuring their customers have the safest possible experience on their site.
“This situation has led to a haphazard approach to managing fraud – which is in stark contrast to what larger businesses are able to do.”
In addition, PayPoint found that among 1000 consumers, just 3 percent of online shoppers are likely to trust a small online business with their money, preferring to shop with larger online brands. A further 81 percent say they have doubt about the security credentials of small, unknown companies.
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