A new study commissioned by Visa reveals a rise in consumer awareness and proactive security measures for digital payments across Central and Eastern Europe, the Middle East, and Africa (CEMEA). The ninth annual Stay Secure study, which surveyed 5,800 adults across 17 diverse Central Europe, Middle East and Africa (CEMEA) markets, found that 98% of consumers now actively take precautions to secure their online transactions, showcasing increased savviness as digital payments gain momentum.
While 59% of respondents in South Africa acknowledge their vulnerability to scams like phishing, the increased adoption of security measures and preference for stronger authentication indicate a positive shift in consumer behavior since the last edition of the Stay Secure study in 2023. Consumers are now actively spotting red flags and verifying the legitimacy of online interactions, showing a marked increase in awareness.
Other key insights emerging from the research bode well for the continued acceleration of digital payments across the region, with over three-quarters of all respondents stating that they mostly or completely trust digital payments, regardless of the threat of fraud. 68% of consumers across South Africa anticipate that they will increase their use of digital payments over the next year.
“The digital payments landscape is evolving rapidly, and consumers across South Africa are embracing its convenience while becoming more vigilant about security,” said Irene Auma, Head of Risk, VISA, Sub-Saharan Africa (SSA). “Consumer education is our best defense against fraud, and industry collaboration makes this possible. As scams grow more sophisticated, the battle for security never stops. Consumers increasingly trust partners who take tangible steps to protect them.”
The ‘Stay Secure’ study highlights evolving consumer preferences, which could offer Visa’s stakeholders actionable intelligence for trust-building strategies and inform the creation of educational materials to empower consumers against fraud.”
Key Findings of the Visa Stay Secure Study:
- 77 % of consumers indicate fraud and unauthorized transactions as the biggest trust deterrents
- 48% of consumers have somewhat reduced their use of digital payments.
- 56% of Boomers (60–78-year-olds) report the highest scam victimization rates.
- 51% of consumers consider themselves very knowledgeable about scams, while a staggering 62% admit to having fallen victim to one.
- 31% of consumers indicate the need for better education on safe payment practices.
Visa’s Commitment to a Secure Digital Future
Visa has been at the centre of AI in payments, investing $3.3 billion in our AI and data infrastructure over the last decade. In 2024, it introduced three new AI-powered risk and fraud prevention solutions, as part of the Visa Protect suite, that are designed to help reduce fraud across immediate A2A and card-not-present (CNP) payments, as well as transactions on and off Visa’s network.
As the world’s largest SaaS platform, Visa combats cybercrime by deploying cutting-edge tools, expertise, and processes to help identify and mitigate fraud. The impact is undeniable: In the past year, Visa blocked $40 billion in fraudulent payment value, prevented 80 million fraudulent transactions, and averted over $122 million in estimated e-commerce fraud through malware detection.