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Online shoppers want secure place they can store payment information

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Many consumers have turned to online shopping as the preferred way to buy products, but a recent survey conducted by Harris Interactive found consumers want the online shopping experience to be simpler.

The survey, which was commissioned by MasterCard, found"entering payment, billing and shipping information" to be the biggest problem areas among shoppers who are purchasing products online.

"The research shows that consumers want a simpler, faster way to enter account information, so they can spend more time searching for exactly what they want and less time filling out forms at checkout," said Geoff Iddison, group executive for e-commerce and mobile for MasterCard Worldwide.

Nearly 60 percent of those engaging in e-commerce want one place where they can safely store their account information so it can be accessed easily when it comes time to check out from any online site, the study found.

If an e-commerce website employs this type of technology for their online shoppers, they must be sure to protect the confidential information stored online. Online retailers could therefore benefit from cyber liability insurance policies, which provide valuable coverage in case sensitive customer data is compromised.

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