More and more people are getting comfortable shopping and taking care of their financial business online, like their personal banking and paying bills. This means that more and more people are putting their credit and debit card information out there on the internet. But the internet?s secure, right? Not always. Sometimes there are problems with processing payments online, like merchants deciding to chargeback credit card, a service not being delivered or received, and claimed that a consumer never even ordered a product.
Fortunately for consumers, many of these problems are rare now, thanks to websites that have popped up to help verify transactions and make sure things run smoothly. These sites exist solely to help remind, confirm, and validate purchases for merchants and help facilitate smooth transactions for the delivery of services and products ordered by consumers. And with so many people taking to the internet to shop, that?s a great thing!
Just how popular is online shopping becoming? Just in 2013, consumers in the U.S. spent $4.6 trillion with their credit and debit cards. Of the Millennial generation, 60% expect and often experience a consistent experience from brands they shop with frequently online, in store, or over the phone. Even shopping on mobile phones is skyrocketing. It?s estimated that by 2019, mobile purchases in the U.S. will explode from $52 billion to more than $140 billion! But people aren?t shopping online just for kicks. Oftentimes, there are perks for purchasing items in bulk or online, according to a 2015 Statista report.
Online shopping doesn?t appear to be slowing down anytime soon, but that doesn?t mean that consumers aren’t just a little bit concerned about credit and debit card fraud when opine shopping. And no one wants to check up on an order and see a chargeback credit card. That?s why it?s so great that companies have risen up to counter the threat of fraud and ensure smooth, secure transactions between merchants and consumers.
