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CREDIT AND DEBIT CARDS TOP WEB PAYMENT OPTIONS.

The vast majority of European on-line sales are generated using credit and debit cards, according to a new survey conducted for Europay. 4.2 million Europeans shopped over the Web in 1998. Internet purchases were made using credit cards 75% of the time, with debit cards accounting for the next largest share, followed by postal orders and cash-on-delivery. But so far, there are only limited opportunities for ensuring secure payment. At present, a Secure Electronic Transmission protocol implemented by about 50 European banks provides some solution by securing PC keyboard-based payments with magnetic-stripe cards over the Internet, using digital certificates. It is only with the broad scale introduction of chip cards that secure payments and remote banking services will be fully assured, the report predicts.

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Comment:CREDIT AND DEBIT CARDS TOP WEB PAYMENT OPTIONS.
Publication:European Report
Geographic Code:4E
Date:Oct 9, 1999
Words:125
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