Credit cards are the most commonly used form of e-commerce payment method, and virtually dominate the market, especially in the United States. (See Chart 1) Alternatives include payment by cash, personal checks, money orders, and cash-on-delivery.
However, credit card security has been the biggest barrier to the growth of online shopping. Edging out ‘disclosure of personal information details’, credit card security tops the list of fears. (See Chart 2)
The two charts
contrast the light side with the shade of credit card use in the thriving e-commerce.
Based on the information above, credit card security can be regarded as one of the weakest links in B2C e-commerce. That is the basis of our understanding.
