Those of us who spend our days online don't think twice about trusting the web with our most personal matters, but as online marketers it may serve us well to keep in mind that the rest of the online
population is still having trust issues.
Internet service and content providers appear out of touch with the payment concerns and preferences of potential customers, a perception gap that may
seriously limit content sales growth, according to a new PaymentOne study.
According to the research, consumers continue to perceive serious shortcomings with today's online payment options,
particularly with respect to security. In fact, when consumers who have not made online purchases were asked what would persuade them to buy online content, 53% cited more secure payment options.
Payment security was chosen over price or product-related responses by more than a 2-1 margin.
Meanwhile, too few executives at content and service provider companies perceive payment as a
critical strategic business issue. Executives responding to survey questions consistently cited pricing, content quality and other non-payment issues as their primary concerns for growing their
businesses.
The survey indicates there is real interest among consumers in paying for online content. By far, respondents were most willing to pay for classified ads. Fifty-two percent chose
classifieds as the content they were most likely to purchase. Twelve percent said they were most likely to pay for Internet news; 11% for music; and 11% for games. However, 61% of all consumers said
they would be more likely to make online content purchases if there were an easy and secure alternative to the credit card.
The findings of this survey are supported by other third-party research
as well. Published in February 2003, the third annual UCLA Internet Report, "Surveying the Digital Future," found that 92 percent of consumers have at least some level of security concern about using
their credit cards online. Slightly more than 63% said they were either "very" or "extremely" concerned.