According to survey respondents, the most common source of information about the safety of online shopping is stories in the media, which naturally focus on crimes or losses of credit card information. But consumers also rely on friends and family for advice. About a third of survey respondents say that they or someone they know has been a victim of online credit card fraud.
"With the abundance of media coverage about security breaches, it is not surprising that some shoppers are frightened off," said Simon Stokes, managing director of CyberSource Ltd. "The challenge to the industry is educating consumers to shop safely, to minimise their exposure to fraud. As more people gain access to the Internet and realise the convenience, value, and safety of shopping online, I believe we'll see a higher percentage trying and staying with this form of purchase."
According to the survey, UK shoppers are taking some basic precautions to protect themselves from fraud when shopping online. 68 per cent of online shoppers have now signed up for the MasterCard SecureCode or Verified by Visa programmes, which provide password security for online credit card users. 57 per cemt use credit cards for the additional protection they offer, and 86 per cent look for the secure padlock icon on a website before proceeding with a purchase.
This 1,000 person survey was conducted by market research firm GfK NOP LLC.
17/02/2009