Over half of online shoppers abandoning carts due to payment fears

Over half of UK shoppers have abandoned a purchase due to concerns that payments may not be securely handled, according to a new report.

The study by fintech Burbank and YouGov also reveals that nearly 60% of online consumers refuse to pay on unfamiliar sites.

With Black Friday and the Christmas rush just around the corner, ecommerce sellers need to pay attention to what’s becoming known as the “abandonment economy”, a growing trend where trust now trumps both price and speed at checkout. If shoppers get the sense that something is off, they’re gone.

For ecommerce businesses, especially smaller online sellers, abandoned carts equal lost revenue. When margins are already tight and seasonal peaks matter, gaining trust is vital.

Why security concerns are driving abandoned carts

Burbank partnered with YouGov to survey over 2,000 UK adults for its Make Trust Pay report. The results show that 52% of shoppers have abandoned checkouts due to security fears.

Shockingly, only 5% of shoppers reported feeling ‘very comfortable’ when entering card details on websites, indicating widespread insecurity when shopping online.

On the flip side, nearly half would feel more comfortable if online checkouts mimicked the in-store experience of chip and PIN payments.

The idea of “verification fatigue” may be able to explain the preference for simpler in-store payments over online checkouts. While they may be intended for security, cumbersome measures such as ID checks or prompt-style pop-ups can feel confusing and deter users.

The report showed that a larger proportion of older, higher-spending shoppers were the least comfortable with online shopping. While 60% of total respondents feel more worried about online fraud now compared to 2-3 years ago, that percentage climbs to 74% among over 55’s.

How businesses can reduce cart abandonment

One of the major findings from the report is that shoppers want online checkouts to feel as safe and familiar as paying in-store. Nearly half of consumers who abandoned a purchase due to fraud concerns say they would have completed it if the checkout mirrored a tap-and-PIN experience, and 56% say they’d be comfortable paying online with a PIN.

Ecommerce sellers should respond by streamlining their checkout experience, removing unnecessary verification steps, and using clear trust signals such as recognised payment provider logos and secure badges.

Regarding the report, Justin Pike, CEO of Burbank, commented, “People want online payment experiences that feel as safe and familiar as tapping a card in-store.

“To win online, businesses must build the same sense of trust they have long mastered at the counter.”

Burbank’s groundbreaking Card-Present over Internet® (CPoI®) tech enables consumers to use tap-and-PIN payments at home on their mobile phone while shopping online, removing clunky card entry and extra verification methods that can damage shoppers’ confidence.

Building trust pays off

As buyers become increasingly dubious of online shopping, trust is becoming a must-have.

Businesses can strengthen that sense of safety by adopting simple messaging cues, upfront reassurance around security, visible protection icons, and checkout flows that mirror familiar, risk-free offline experiences.

And while shoppers are increasingly open to adapting to new payment methods, they want to feel secure using them, especially during high-stakes periods like Black Friday and Christmas.

Ecommerce sellers who actively prioritise building trust are far more likely to see more completed checkouts and fewer abandoned carts over the holiday season.