Yes, the barrier is high because paying is a high-friction activity whenever cards are involved. That's why the various quick checkouts are all the rage the past 10 years or so.
This has very little to do with the original claim of "Users dislike paying on the web because it is a security risk". Users have no issues paying for stuff online.
I wonder how small independent sites like Amazon and eBay exist then if people dislike paying on the web because of the security risk.
The reality is that people have literally no problem paying for stuff on the internet.