Yes, we believe there is very good reason to conduct
There is a vast pool of people using the Internet who make purchases
According to the Office of National Statistics website :
"The value of orders received over the Internet by UK
non-financial sector businesses increased by 39
per cent between 2001 and 2002, from £16.8 billion pounds
to £23.3 billion pounds." (see
Would you like your slice of that pie ?
But what about Credit Card Fraud ?
This needs to be brought into perspective.
APACS (the Association for Payment Clearing Services)
is the industry body for the UK's major banks and building societies
and their website (www.cardwatch.org.uk)
carries some very useful information to help both consumers and
retailers combat fraudulent use of credit cards. One of their
pamphlets "Card Fraud the Facts 2004" (click
here) has the following to say :
"... losses against total turnover at 0.13 per
cent are significantly less than the 1991 peak level
of 0.33 per cent. This fraud-to-turnover ratio fell from 0.164
per cent in 2002 fraud."
Note that the fraudulent losses compared to the
amount spent using credit cards is just 0.13%, that's little more
than one tenth of a penny in the pound or put another way 13p
in every £100 !
Now, bear in mind that the figures quoted cover
ALL types of credit card fraud including counterfeit
cards, lost & stolen cards, cards lost in the post or en-route,
identity theft, cash machine fraud, skimming, fraudulent use of
UK cards abroad, etc. etc.
Feel better about an on-line business now ?