ARTICLES
Third party trust marks or security seals help alleviate security concerns of online shoppers. Their studies show online shopper' overwhelming concern with security and the value trust marks and security seals hold in their minds:
78% of online shoppers say that a security seal or trust seal indicates to them that the website information is secure.
88% of online shoppers say that it is important for an e-commerce website to include either a trust mark or a security seal.
79% of online shoppers expect to see a trust mark or a security seal displayed on either the website's home page and or order page.
71% of online shoppers say they will shop only at sites they already know and trust, while 38% will only make their purchase at websites that include a trust mark or security seal.
Just under 70% of online shoppers have stopped and online transaction because they did not trust the purchasing website. 86% of them indicated the presence of a trust mark or security seal would have likely prevented them for the termination.
84% of shoppers do not feel that online merchants are doing enough to keep them and their information secure
From a Forrester Research, Inc. survey conducted in December 2005:
24% of those surveyed who responded said that security concerns had caused them to discontinue an online shopping purchase.
61% of respondents said that they have at least cut back their online shopping due to security concerns.
(Internet Retailer, March 2006, "Hand-Holding, Fraud-Weary Consumers Look for the Seal of Approval.")
From a Unisys Corporation's Trusted Shopping Indes (TEI):
Security fears may be keeping as many as 50% of consumers from using their credit cards for online purchase.
(Internet Retailer, April 12, 2007, Fraud Fears Prevent Half of Consumer from Shopping Online with Bank Cards.")
Trustmarks, Objective-Source Ratings, and Implied Investments in Advertising:
An online experiment compares three potential signals of trust in an internet retail firm: (1) a third-party certification (i.e. a "trust mark"). (2) an objective-source rating (i.e. a review from Consumer Reports magazine), and (3) an implication or investment in advertising (i.e. a television advertisement to air during the Super Bowl.) The trust mark had the greatest effect on perceived trustworthiness, influencing respondents' beliefs about security and privacy, general beliefs about firm trustworthiness, and willingness to provide personal information.
(Journal of the Academy of Marketing Science Vol. 34 No. 3, 308-323 (2006) Eastern Washington University)
Building Internet Trust: signaling Through Trust Marks:
Consumer's concerns about privacy, security, and control of personal information highlight the importance of trust in building marketing relationships in the computer-mediated environment. Internet firms have begun posting third-party certifications, labeled "trust marks", as signals of reliability, credibility, a and general trustworthiness. This Paper integrates the literatures on signaling theory and trust, and makes extensions to the internet. It identifies and categories sets of internet signals, highlighting the critical role of trust marks in the computer-mediated environment.
(International Journal of Internet Marketing and Advertising Volume 1, Number 3 / 2004 pages 251-267)
From a White Paper Report by VeriSign:
"...Studies have revealed a willingness on the part of consumers to pay more for items if their online safety is ensured. A recent study conducted by Carnegie Mellon Usable Privacy and Security Lab and presented at the 2007 Workshop on Economics of Information Security revealed that shoppers would spend up to 60 cents extra for a $15 item when they thought privacy protections were in place.
"...the lack of a recognizable trust mark on a merchant's site is a disservice to consumers. Most customers don't have the tools to verify the presence of adequate security on a e-commerce site, and trust marks fill that role. Merchants who care about their customers need to demonstrate that care constantly. A trust mark is an active demonstration of the commitment.
"In strengthening consumer confidence, trust marks are proven to help drive sales, boost margins, and enhance a site's competitiveness..."
(VeriSign Inc. 3-20-2008 White Paper: www.verisign.com.au)