Checkout.com, a global leader in digital payments, has launched the inaugural Digital Economy Trust Index, offering a comprehensive analysis of consumer trust in digital platforms across 16 countries. This pioneering index ranks nations based on three critical dimensions—security, transparency, and user experience—to gauge the degree of public confidence in the digital economy. The findings highlight a strong direct correlation between consumer trust and national GDP growth from 2014 to 2024, underlining the growing importance of digital trust in driving economic development.
China claims the top spot in the Index with a trust rating of 8.6 out of 10, followed closely by the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), and Egypt. These results suggest that a robust digital infrastructure, openness to innovation, and supportive regulatory frameworks play crucial roles in fostering trust. China, for instance, received perfect scores in trust in biometric security, digital payment methods, and the perception that technology enhances payment safety.
In contrast, Japan ranks last despite its high levels of digitisation and e-commerce engagement. With a trust score of only 2.6, the results indicate that technological advancement alone is insufficient without concurrent efforts to build public confidence in digital tools and services.
The Index is structured around three core pillars: Usage and Behaviours, Trust in the System, and Emerging Tech Adoption. These pillars are further divided into six sub-dimensions, derived from responses of over 18,000 consumers gathered through YouGov research. Each pillar evaluates specific aspects of digital trust, such as frequency of digital engagement, perceived safety of payment systems, and willingness to adopt technologies like AI and blockchain.
The Middle East emerged as a regional leader in digital trust. The UAE, KSA, and Egypt secured second to fourth positions respectively. This regional strength is largely attributed to government-led digital initiatives, high trust in AI and biometric technologies, and increased public reliance on blockchain-based systems. Notably, Egypt’s performance exceeds expectations, with strong trust in AI and digital identification, despite relatively low digital transaction volumes.
In contrast, Europe and North America trail behind in digital trust, particularly in areas like biometric security, blockchain usage, and AI adoption. Privacy concerns and fears around emerging technologies appear to hinder trust. In the UK, for example, concerns over deepfake scams and identity misuse are widespread. France ranks second to last, just ahead of Japan, due to low confidence in digital wallets and online payment methods.
Despite these concerns, Spain stands out within Europe for its relatively high trust levels, while the Netherlands demonstrates high engagement in the circular economy but remains cautious about digital security. Germany’s consumers express confidence in legal protections but cite cybersecurity and privacy as major barriers to digital trust. The North American picture is mixed. While the United States scores well in trust in online checkout systems, it lags in confidence in blockchain and consumer protections. Canada shows slightly more comfort in storing card data online but shares similar reservations about digital safety mechanisms.
New Zealand, though ranked mid-table overall, leads among developed nations in trust in digital IDs and AI, making it a notable exception in the Western world. Similarly, Brazil, ranked sixth, showcases the potential of emerging markets. Its high trust in digital money management and strong gig economy participation are likely influenced by its youthful population and widespread adoption of real-time payment systems like Pix.
The Index findings support the theory of a “leapfrog effect,” where emerging markets bypass traditional financial systems and shift directly from cash to digital wallets, often fostering higher trust in digital systems compared to more established economies. Checkout.com’s Chief Operating Officer, Jenny Hadlow, emphasizes that while trust in traditional commerce is inherent, digital commerce requires earning consumer confidence at every step—from sharing personal data to believing in redress mechanisms. The Index aims to equip businesses and governments with insights to overcome trust barriers and foster inclusive digital growth. With digital platforms increasingly driving global commerce, Checkout.com calls on all stakeholders to prioritize digital trust, ensuring the future digital economy is both safe and inclusive for all.
