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Internet Shopping Exploding!
Internet shopping exploded dramatically this past holiday season (2004). VeriSign Inc., a prominent e-commerce network provider, announced that it processed transactions worth $12 billion between November 1 and December 31, 2004, up 88 percent from $6.4 billion during the same period in 2003. Transaction volume grew by 39 percent year-to-year.
Shop the Internet with Confidence.
In its fifth edition of the VeriSign Internet Security Intelligence Briefing (ISIB,) the company attributed the increase to broadband access, the availability of inexpensive goods on the internet, and an increase in trust with Internet security.
Online merchants also reported a drop in the number of transactions they categorized as too risky to complete, down to 6 percent from 7 percent in 2003. Although security continues to be a prime concern for both consumers and merchants, fraudulent transactions only accounted for 2 percent of all purchases.
Countries to watch out for were Romania, Vietnam, and the United States as the top source countries for total volume of e-commerce fraud during the 2004 holiday period while Belarus, Slovenia, and Vietnam were the top countries for internal percentage of fraudulent transactions.
This report by Verisign is confidence-building news for consumers who might still be hesitant in shopping on the Internet. Advanced encryption technology safeguards credit card information provided over the Net and individual companies membership in organizations such as Truste insures safeguarding and confidentiality of your personal information.
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