Every year, the Double Eleven shopping festival sparks intense competition among global merchants. Merchants spend months preparing to achieve maximum profits during this important sales season. A preferred payment platform Adyen survey shows that as many as 93% of Hong Kong consumers say they will abandon a transaction if they cannot use their preferred payment method during online shopping. This proportion is the highest in the surveyed Asia-Pacific region, far higher than Asia-Pacific (81%) and global (78%).

The survey indicates that nearly forty percent of Hong Kong consumers seek a smooth transaction verification process and prefer to avoid switching to third-party payment gateways. Once consumers are directed to a third-party payment gateway page, they often choose to terminate the transaction, especially during peak shopping seasons, when consumers typically have multiple shopping websites to choose from.

At the same time, Hong Kong digital businesses are also concerned about payment fraud, especially during peak consumption seasons when sales volumes are significantly higher, raising concerns about fraud risks. Currently, 73% of Hong Kong digital businesses state that transaction fraud and refunds have become a significant cost in their business.

Adyen commissioned Censuswide to conduct a global survey, interviewing 37,378 consumers and 8,822 digital businesses, including 1,010 Hong Kong consumers and 409 Hong Kong digital businesses.