Press Release: Vesta survey shows online shoppers in Southeast Asia value safety and security above all else

    SEA Survey PR_Social_Social3

    One in three (33%) respondents cited multiple verification and authentication as a payment problem they faced in the last 12 months.

    Singapore, 8 September 2021 – Vesta recently unveiled the findings of the Vesta Online Payment Sentiments survey, which gathered responses from more than 4,300 respondents across Singapore, Indonesia, and the Philippines.

    “In burgeoning eCommerce and mCommerce markets like Singapore, Indonesia, and the Philippines, merchants and customers are increasingly vulnerable to false declines, fraud, and poor payment experiences. Our survey has revealed that safety and security remain a top concern among online shoppers and there is an unspoken expectation of merchants to put in place the right solutions. Unsurprisingly, shoppers also see the hassle of multiple verification and authentication as a top payment problem. Overall, the results of this survey indicate an obvious and urgent need for sophisticated solutions that offer better protection against fraud, drive higher approvals while enabling a seamless consumer payment experience,” said Shabab Muhaddes, Vesta, General Manager, Asia-Pacific.

    A frictionless payment experience can help build brand preference and increase revenue

    Almost half (47%) of respondents have encountered payment problems in the last 12 months, according to the survey.

    Across all payment methods, multiple verification and authentication is a top payment problem faced by one in three (33%) of respondents; followed by declined payments without valid reasons, experienced by one in five (22%) online shoppers surveyed. Payment friction can frustrate customers who already buy from multiple brands and will not hesitate to shop at another site that offers a smoother online shopping experience. Almost six in 10 (57%) online shoppers in the three countries would stop shopping at the eCommerce site should they encounter a problem when making a purchase. More than half (54%) of those who have faced a payment problem when making an online purchase would also warn their family or friends about the merchant or eCommerce site, resulting in further potential losses in revenue for the merchant.

    With an increasingly tech-savvy population where people look for security in positive reviews, the survey also found that approximately seven in 10 (69%) online shoppers rely on past reviews from previous buyers to determine if a site is secure to purchase from. This underscores the impact that a negative payment experience can cause on the merchant’s business in a competitive eCommerce industry.

    The urgent need for mobile-first protection needs to be addressed

    Southeast Asia is the fastest-growing mobile wallet market globally, with Indonesia and the Philippines poised for continued hypergrowth in mobile payments over the next five years.

    Six in 10 (60%) of those surveyed in these two countries indicated that they prefer to pay using e-wallets, attributed to a large unbanked population and  low credit card penetration.

    However, of those who have encountered payment problems with e-wallets in the last 12 months, one in 10 (11%) of respondents from the two countries faced declined payment without a valid reason, resulting in revenue loss for merchants. Identified as a top pain point amongst online shoppers, one in five (20%) experienced payment friction through multiple verification and authentication.

    Balancing identity verification and a frictionless shopping experience is key

    Notably, three in five (57%) online shoppers in Indonesia share retail accounts with their friends or family, putting them at higher risk of fraud methods, such as account takeover.

    This is concerning given Indonesia is the largest eCommerce market in Southeast Asia, estimated to grow to US$83 billion in 2025. In Southeast Asia alone, one in three have experienced online fraud last year, with 71 percent who experienced identity theft, 66 percent from phishing activities and 63 percent from account fraud.

    Implementing a robust, end-to-end fraud protection solution is the most cost-efficient way to prevent fraud

    Fighting fraud is complex and expensive, that is why it is so crucial for eCommerce merchants to employ sophisticated solutions backed by machine learning to offer protection against fraudulent cases, and a transaction guarantee platform for a smooth payment experience for online shoppers.

    Download the Survey Results Infographic

    About Vesta 

    Vesta is the only instant, end-to-end transaction guarantee platform for online purchases, delivering unparalleled approval rates, a better customer experience and eliminating fraud for leading brands in telco, e-commerce, travel, and financial services. Using machine learning backed by 25 years of transactional data history, Vesta increases approvals of legitimate sales for its customers, while eliminating chargebacks and other forms of digital fraud, driving the true cost of fraud to zero and transferring 100% of the liability for fraud, including chargeback processing, so customers can focus on increasing sales. The company is headquartered in Portland, OR, with offices in Atlanta, Miami, Ireland, Mexico, and Singapore. For more information visit 

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    Download the press release


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