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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."
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Title Annotation:Industry Trend or Event
Comment:Online Credit Card Transactions More Than Doubled In Past Year.(Industry Trend or Event)
Publication:EDP Weekly's IT Monitor
Geographic Code:1USA
Date:Dec 13, 1999
Words:149
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