Credit Cards Online Information

A survey by CyberSource Corp, a provider of e-commerce transaction services, has revealed that 75% of Internet merchants are worried about credit card fraud, yet 41% don't know that they are held liable when online fraud occurs.

The research, which questioned over 100 web-based businesses worldwide, found that online merchants were most concerned about consumers' lack of confidence, followed by stolen credit cards, unauthorised access to customer information, hacking and chargeback fees. Of the respondents, 72% believed that sales would increase if online shoppers were not worried about fraud, while 74% expected online fraud to increase this holiday season.

Supporting this warning is E-commerce specialist TrustMarque, which has said that Internet credit card fraud over the Christmas period could cost them millions of pounds.

BMRB research indicates that the number of British consumers shopping on-line over the holiday period will increase by an extra 2.4 million - compared with 4.8 million shoppers during the first eleven months of the year. There is a risk that up to 8% of the total revenues from these transactions could be fraudulent, says TrustMarque, and retailers, as well as being liable for the transactions, are charged a fee by the credit card companies each time.

# posted by Medical Information : 3:38 AM