Fraud experts warn the situation is likely to grow worse during an economic downturn, with small companies at greater risk than major firms of being targeted by fraudsters.

Payment experts from British Airways, Expedia, National Express, Flybe and Sunvil discussed the issue of credit card security.

All the companies represented employ online security measures. Some felt customers did not always understand the importance of these.

British Airways global payments manager Ken Muir said: “We have been using the 3D secure system, but a lot of people don’t seem to know what it is. There should more publicity to make people aware of security.”

Flybe director of group finance Andrew Rosser said security systems could be off-putting to customers. “An extra screen is a turn-off – customers just want to pay and go,” he said. “Some customers can be cavalier about security.”

Making every step of the process clear appears to be the key to success, as confusion can quickly lead users to click away from a site.

Sunvil financial controller Ismet Emin said: “People get frustrated if there is no number to call. If they don’t understand the site, they want to speak to someone.”

Expedia product manager Ira Ignatora agreed: “A lot of work goes into providing good explanations as to why a transaction has failed. Payment solutions don’t excite the customer, but if these don’t work they become upset.”

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