Online UK Spending Doubles
Posted: 08th Jul, 2004 By: MarkJ
The Association for Payment Clearing Services (APACS) has reported that online shopping revenues increased by 50% last year to £200m:
Although this is still a fraction of overall spending, the figure is expected to grow over the coming years as Internet security improves and users gain confidence in e-commerce systems.
Consumers are only embracing online shopping, but are also increasingly keen to conduct all types of transaction via credit card rather than cash.
According to the report, the number of payment cards being used grew by 9 percent to 160.6 million. This year, total plastic card use -- including business spending -- will top £269bn, against £268bn of cash payments.
Conversely, new research from LogicaCMG has found that more than one in 20 online consumers have fallen victim to online fraud whilst carrying out banking and shopping transactions. More @ ZDNet.
Although this is still a fraction of overall spending, the figure is expected to grow over the coming years as Internet security improves and users gain confidence in e-commerce systems.
Consumers are only embracing online shopping, but are also increasingly keen to conduct all types of transaction via credit card rather than cash.
According to the report, the number of payment cards being used grew by 9 percent to 160.6 million. This year, total plastic card use -- including business spending -- will top £269bn, against £268bn of cash payments.
Conversely, new research from LogicaCMG has found that more than one in 20 online consumers have fallen victim to online fraud whilst carrying out banking and shopping transactions. More @ ZDNet.
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