Online Credit Card Transactions More Than Doubled In Past Year.
The number of US adults using credit cards to purchase goods and
services online more than doubled between 1998 and 1999, according to figures from Cyber Dialogue. By the third quarter of 1999, 19.2 million
adults used their credit cards to make online transactions, compared to
9.3 million in 1998 and only 4.9 million in 1997. Visa retained a more
than 50 percent market share of online consumer transactions, while just
over one-quarter of transactions were completed with MasterCard, 12
percent with American Express and six percent with Discover. "The
massive surge of credit card use online is an indication that consumers
are fast becoming completely comfortable with making purchases
online," says Liz Melcher, executive vice president of Cyber
Dialogue. "The findings also suggest that credit cards have
established themselves as the new online currency when it comes to
buying goods and services of any value."