New research reveals that over 80 per cent of consumers in the UK are concerned about the security of their financial data when shopping online.

A survey conducted by UK managed hosting company NetBenefit found that approximately half of respondents are prepared to spend up to £500 online.

However, 70 per cent of shoppers do not understand the significance of the green browser bar in Internet Explorer, and 20 per cent do not understand what the golden security padlock represents.

Shopping online has never been more popular, but NetBenefit is urging the UK's 27 million e-shoppers to ensure that they shop safely.

Jonathan Robinson, chief operating officer at NetBenefit, said: "Secure website technology has been in place for some time, but it is staggering to find that so few consumers actually know how to make sure a website is secure.

"The industry has put standards in place to provide the online shopper with confidence, but many shoppers simply do not know what they are supposed to be looking for."

Robinson added that consumers should look out for the golden padlock which should be displayed next to the browser bar. The padlock shows details of the website's security report.

"If you have any doubts about the website that you are visiting, look for the golden padlock and just right click to find out whether the certificate owner and the website match," said Robinson.

If the security certificate has an extra level of validation in the shape of an Extended Validation certificate then the browser bar will turn green.

"Online shopping has its challenges for even the most savvy of online shoppers," said Robinson.

"Bad experiences such as snail-like speeds during the purchase are just as frustrating as a long wait at the till, but poor security can be tantamount to leaving your purse or wallet at the checkout."