We recently carried out comprehensive research into online consumer tolerance times – and the results may surprise you.
The findings revealed that nearly half (45%) of UK adults have abandoned an online transaction due to the length and complexity of the identity validation and security checks. Half of those (47%) said they simply went to a competitor, while one in five (20%) gave up completely and abandoned the transaction. Less than one in five (17%) bothered to try to resume it at a later date.
It’s estimated that identity impatience is costing the retail sector around £2.3billion in lost revenue with consumers dropping out of transactions after an average of five minutes.
But we can help you counter the drop-offs and increase acceptance rates, while safeguarding you and your customers from fraud.
Prove ID is an international identity verification tool which allows you to quickly authenticate your customers’ identity in real-time. You can trial it for free today, simply by clicking here!*
Based on a survey of 2,000 adults by Opinium Research LLP with Experian Mosaic analysis applied
Based on ONS internet sales from July 2012 to July 2013.
*Terms and conditions apply, please see our website for details.