Insights into digital trust in online payments, with Elliot Colquhoun

Did the latest big data breach make you wince? Maybe it even prompted you to revisit your technology partners’ security credentials. It’s not just businesses that are becoming more cautious – customers are, too.

91%¹ of global shoppers say visible trust badges and security certificates at checkout influence their decision to buy from international merchants. And 53%² only purchase after confirming that a company has a strong reputation for protecting consumer data. Trust, it turns out, is one of the most powerful conversion factors in online payments.

To gain a deeper understanding of digital trust in online payments, we spoke to our VP of IT & Security, Elliot Colquhoun, about why payment security is critical to your brand’s reputation, and how trust drives customer loyalty and business growth. 

Read his full article on how digital trust shapes customer behaviour – and how your business can build it from the ground up:

Beyond the badge: what digital trust really means

Digital trust goes deeper than SSL certificates or padlock icons. It’s about the confidence customers have in your brand – that you’ll handle their data responsibly, protect their payments, and deliver a secure, seamless experience. It also means being transparent about how you use customer data, communicating clearly, and taking accountability if something goes wrong.

But trust isn’t universal. Consumers in different markets define ‘secure’ differently. In the EU, customers value strong data privacy protections, while in the US, independent security audits carry more weight.

At Airwallex, we’ve built a global security framework agile enough to adapt to local expectations – ensuring trust is consistent, no matter where our customers operate. Security isn’t a side function. It’s central to how we design, build, and scale our platform.

When a payments provider suffers a breach, customers rarely blame the provider – they blame the business that used it. Even if you switch vendors afterward, the damage is done. A McKinsey study found that 40%² of consumers stopped doing business with a company after learning it failed to protect customer data.

The business case for security investment

Trust isn’t just a compliance requirement – it’s a growth strategy. Businesses invest heavily in attracting new customers and improving conversion rates, yet overlook the role security plays in those outcomes.

Customers are more informed than ever. They actively look for reassurance at checkout, and they remember the brands that make them feel safe.

McKinsey’s research shows that companies with strong digital trust frameworks are more likely to see annual revenue growth of 10%² or more. When customers feel safe, they buy more, return more often, and recommend your brand to others. When they don’t, they walk away. The question isn’t whether to prioritise payment security – it’s whether your business can afford not to.

Read the full article, 'Digital trust in online payments' by Airwallex’s VP of IT and Security, Elliot Colquhoun:

Sources

1. Airwallex Cross-border payments survey, 2025 (Statista research)

2. https://www.mckinsey.com/capabilities/quantumblack/our-insights/why-digital-trust-truly-matters#/