Stats Show Online Fraud Not Slowing Purchases

Debit and credit card holders are not bowing to fears of online fraud, according to the latest statistics from CyberSource Corp. The company found that in the second quarter of this year, online merchants saw a 38 percent increase in orders over the same period last year. In fact, those merchants reported an average 30 percent increase in sales in the first six months of this year.

Those statistics contradict somewhat the Conference Board numbers released last June, which reported that 41 percent of Internet users were using the Web less for shopping because of news stories of online data fraud.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 11, 11/05