9 in 10 HK consumers won’t shop without preferred payment method

Four out of 10 shoppers also want payment authentications without redirects.

About 93% of Hong Kong consumers will not purchase online if their preferred payment method is unavailable, the highest rate amongst APAC countries surveyed by Adyen.

The survey, which polled 1,010 consumers and 409 online shops in Hong Kong, also found that four out of 10 shoppers want payment authentications without redirects during peak shopping seasons.

Additionally, 54% said they expect businesses to provide secure payment options—peak season or not.

Meanwhile, Hong Kong businesses are concerned about payment fraud as 73% reported frauds and chargebacks causing costs to their business.

Moreover, businesses recognise the value of analysing payment data, with 75% seeking to uncover new growth areas and 32% aiming to better understand their customers.

However, this data is often collected in an isolated department as only one-third of digital businesses work with just three payment service providers.