Visa urges caution as last-minute holiday purchases surge online

• Visa urges extra vigilance against online fraud as nine in ten (89%) holidaymaking Brits surveyed leave their online holiday shopping to the last minute.
• One in three (33%) Brits predict purchasing last-minute holiday items this week (3^rd July – 9^thJuly).
• Young people the most at risk, with one in six (16%) surveyed unaware of the tell-tale signs of online fraud.
• Visa shares top tips for online shoppers to protect them from heightened risk of fraud.

London, 6th July 2023: As the UK enters a peak week for online holiday shopping, Visa, a world leader in digital payments, is today urging British shoppers to be extra vigilant against purchase fraud, as new data reveals one in four (25%) under 35s will be using social media to make their getaway purchases, big or small.

The study, commissioned by Visa and surveying 2000 adults in the UK, finds that over half of Brits (56%) planning a trip abroad this summer are predicted to spend an average of £86 on holiday-related items such as clothes (56%), footwear (40%) and accessories (34%) before their summertime getaways.

However, nine in ten (89%) of these holidaymaking Brits will be leaving online holiday shopping to the last minute. In fact, this week (Monday 3^rd July – Sunday 9^th July) is revealed as the peak time for late holiday purchases, with one in three (33%) holidaymaking Brits saying this is their last opportunity for items to arrive in time.

Yet, with a quarter of under 35s typically making these purchases via social media (25%), and one in six (16%) saying they’re less likely to check for fraud when shopping at the last minute, Visa is urging online shoppers to be wary of the heightened risk of fraudulent activity.

Visa recommends following these top tips for safe online holiday shopping:

• Always start by researching the business before buying from them. From consulting consumer resources to seeking out their company information, such as formal contact and business registration details. Do not ever feel pressured into making a holiday purchase or booking – it should wait until you have done your research and are confident that you’re in safe hands.
• Always check the URL. At a quick glance, it might appear you’re on a trusted site, but fraudsters strike by creating duplicates of well-known websites. Victims then presume they are on the official website and hand over funds for a fake item. Fraudulent sites may also try to take you to another unknown site to provide payment.
• Always pay by card. When paying with a Visa debit or credit card, you can feel confident you are paying safely and securely, as Visa’s Zero Liability Policy* means you won’t be held responsible for unauthorised or fraudulent charges made with your account.
• Resist responding to unsolicited calls, texts or emails offering last minute offers at low prices. If a deal seems too good to be true, it’s often because it is.
• The same goes for holiday-related deals presented to you on social media – be careful. Links and attachments promising offers may lead to malicious websites or viruses that are then downloaded to your device, stealing bank account details or personal information.

Natalie Kelly, Head of Risk at Visa Europe, comments: “By keeping these guidelines in mind, we hope holidaymakers can enjoy holiday preparation without the burden of scams clouding their mind. We understand the excitement and urgency that come with last-minute holiday shopping, be it booking a holiday deal or buying items for your trip. However, it's vital for consumers to remain vigilant and take proactive steps to protect themselves from fraud.”

Visa is committed to preventing fraud and works tirelessly to ensure secure transactions. With multiple layers of safety nets in place, Visa has successfully processed over 99.999% of transactions received in the last five years.

Visa continues to play a leading role in combatting fraud, preventing an estimated $27 billion (£19 billion) in global fraud each year. Incidents of fraud occur in less than 0.1% of transactions of Visa’s network, among the lowest of all payment forms.

ENDS

Notes to Editors:

About the research

Research commissioned by Visa and conducted by Censuswide with 2,000 UK adults between 26^th June and 30^th June 2023. The data was collected using an online survey in the UK.

About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.co.uk