The recently sharp rise in inflation has had an impact on the online payment behavior of Austrians. This is apparent from a study commissioned by the payment platform Paysafe. A third of those surveyed indicate that they now use digital wallets more often (53 percent) and increasingly eCash (31 percent) when paying online. A total of 1000 people in Austria were interviewed for the study.
A digital wallet on the smartphone contains virtual versions of debit and credit cards. The advantage of these digital wallets is that no card details have to be provided for payments. eCash is a payment method where online purchases can be paid for in cash.
Safety is the most important need
According to Paysafe, the changed payment behavior is the result of an increased need for security. 49 percent of those surveyed cited ‘security’ as the most important argument for or against a particular payment method. At a greater distance followed ‘convenience’ (21 percent) and ‘cost’ (16 percent).
Security also plays an important role for Austrians when sharing their payment details. According to the survey, 54 percent of respondents do not want to send data when paying online. 63 percent prefer webshops where no account or credit card details are requested. At the same time, 47 percent said they were more concerned than a year ago about becoming a personal victim of online fraud.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
