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Secure online payment methods 'can reduce credit card fraud risk'

Credit card users may want to note that there are safe and secure online payment methods available to protect against the risk of fraud.

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6 May 2009

Secure online payment methods 'can reduce credit card fraud risk'”

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Director of e-commerce operations at ClickandBuy, Nick Drew said that although the internet opens up more flexible means of committing fraud, fraudsters can be combated by using secure online payment methods.

He said: "Shoppers and retailers are starting to adopt technologies such as ClickandBuy's internet payment system to combat the criminals and protect against the risk of fraud."

His comments come as a survey by YouGov, commissioned by ClickandBuy, showed that 50 per cent of those who regularly shop online will cancel their purchase if their preferred method of payment is not available.

The research suggests that online retailers are losing business if they do not offer a variety of payment methods to online shoppers.

According to the survey, 45 per cent of participants said that during the recession they would take more time shopping online for cheaper versions of things they formerly bought on the high street.

The survey also revealed that 36 per cent of those asked said they thought they would shop more online than on the high street this year than in 2008.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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