Feeds

Half of credit card problems are Web related

19 July 1999

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

It was five years ago today... Statistics, eh? The recent rumpus with the MPAA's findings on illegal Internet movie downloads got us thinking whether there had ever been a happier, simpler age where the facts were presented straight, and without obfuscation. The answer was no:

Half of credit card problems are Web related

By Lucy Sherriff

Published Monday 19th July 1999 16:20 GMT

This week, the Investors Chronicle (IC) reports that problems are being reported with 50 per cent of Internet credit card transactions. Obviously interested, this Register reporter went digging for more details.

A phone call or two later, it transpired that not only had the IC got the wrong end of the statistic - Visa actually found that 47 per cent of all problems being reported were Internet related, which is kinda different - but the financial reference mag was quoting data from a nine month old survey. Still, the figures are interesting. Although it only accounts for one per cent of all sales, the Internet is causing more than its fair share of problems for Visa customers.

Of the 47 per cent of Internet related problems, 22 per cent were fraudulent transactions, the remaining 78 per cent could be anything from late delivery to the wrong goods turning up. But there is no way of distinguishing the cases of stolen credit cards from Internet security failures, so the figures don't really give a clear indication of the state of play for ecommerce - whether that’s today or nine months ago when the survey took place.

The Investors Chronicle article left the impression that the Internet is somehow sparking a new type of credit card fraud, but it ain't necessarily so. Consumers are probably as safe sending confidential data across the net as they are using the phone to make a credit card booking.


Of course, those who want to see how stats are really generated should mosey on down to our own Mother of all Polls, appositely entitled "Who conducts the crappiest polls?"

As for the small matter of the Internet sparking a new type of credit card fraud, 97 per cent of all phishers we contacted said that the assertion was utter nonsense. ®

Intelligent flash storage arrays

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.