Retailers upbeat despite fraudsters
Retailers feeling bullish as battle against fraudsters rages on in 2006, survey claims
Ninety-five per cent of merchants said they expected to see an upturn in online sales in 2006, a survey by secure payment firm CyberSource has revealed.
The UK Online Fraud Report revealed that 36 per cent forecasted growth of 20 per cent; more than a third predicted growth of between 20 and 50 per cent; while almost a quarter expected increases of 50 per cent plus this year.
Payer authentication schemes, such as Verified by Visa and MasterCard SecureCode, were cited as a tool that merchants are most likely to adopt during 2006. However, 34 per cent of respondents said they were not planning to introduce any new anti-fraud measures during 2006.
"Although online fraud continues to rise in gross financial terms, for many merchants it appears to be reducing as a proportion of total online spend.
"Keeping fraud at bay is as important in the current climate as it has been at any other time. Accordingly, merchants must maintain their focus and their investments in anti-fraud measures if they are to avoid falling victim to the increasingly sophisticated techniques of online criminals," said CyberSource.