Share

E-commerce security important

Cape Town - The local e-commerce landscape is becoming an increasingly cutthroat and competitive space.

According to a recent survey released by advisory firm PwC, SA’s online retail sector has a forecasted growth of 15.9% CAGR and will be worth an estimated R9.5bn in 2018.

Unsurprisingly, the sector is seeing an influx of new entrants – which are all vying for a piece of what is shaping up to be a lucrative market. For both new and established merchants, credibility and brand equity will be a critical part of their success or failure.

“Without doubt, a key element of establishing credibility in this nascent market is robust security – and the ability to provide wary customers with a safe and secure online environment in which they can transact with peace of mind,” said Brendon Williamson, general manager of business development at payment services provider PayGate.

“For SA’s online shoppers, many of whom are new to the concept, security (and fear of fraud) is top of mind.”

For one, your payment service provider should always provide the necessary collateral – such as a recognisable and trusted logo, consistent branding, that will enable merchants to proudly display their partnership with the provider in question.

“It is important that merchants recognise that online shoppers are becoming increasingly savvy, and are learning to be prudent in terms of verifying which payment service provider a particular site or merchant uses, and whether the correct branding and logos are present,” said Williamson.

“As the industry grows and becomes even more hotly contested - simultaneously attracting the interest of wily cyber criminals - working with a trusted and reputable payment gateway services provider will undoubtedly become a key competitive differentiator going forward.”

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.00
-0.5%
Rand - Pound
24.00
-0.5%
Rand - Euro
20.53
-0.3%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.5%
Platinum
903.65
+0.8%
Palladium
1,016.75
+1.5%
Gold
2,210.49
+0.7%
Silver
24.61
-0.1%
Brent Crude
86.09
-0.2%
Top 40
68,275
+0.9%
All Share
74,459
+0.7%
Resource 10
57,075
+2.5%
Industrial 25
103,782
+0.5%
Financial 15
16,515
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders