A new study commissioned by SafeCharge has found that payment outages and downtime are causing frequent disruption to retail businesses. The research 'Payments, Interrupted', conducted by WBR Digital, surveyed more than 200 CFO, VP finance, payment managers and payments controllers at large multinational retailers across Europe.
Highlights from the research include:
- 76 percent of merchants in Europe experienced at least one payments outage in the last year;
- 42 percent of retailers in Europe have experienced six or more partial outages in the last year;
- 39 percent of outages hit at peak time such as Black Friday, damaging reputation and customer loyalty;
- 73 percent of respondents reported that payment outages lasted between 15 minutes and one hour;
- 72 percent of retailers admitted to financial losses ranging from €10,000 - €100,000 per outage, with 11 percent citing losses of €1m or more.
Read the report (registration required).