Payment security issues remains a big worry for online retailers and consumers alike

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Payment fraud continues to be a major area of concern for businesses and consumers alike in the wake of the Covid-19 pandemic. According to a new report from Paysafe, businesses have to go the extra mile to reassure customers that their systems are safe and secure during online transactions.

Data from the report shows that 55% of online businesses are worried about the increasing risk of fraudulent payment transactions. Many see it as a potential barrier for attracting more potential customers from shopping online. The report also reveals that 76% of businesses have noticed a change in the way consumers are making payments, with customers opting for more secure methods wherever possible.

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