Blog article
See all stories »

An article relating to this blog post on Finextra:

Crunch hit Brits turn to online shopping

Despite the economic gloom, UK online shopping sales in the first half of 2008 were up 38% - to £26.5 billion - on the same period the previous year.


See article

Chip and PIN won't help the online sales boom

I notice a massive increase in online sales in the U.K. Did anyone think about this coming when they introduced Chip and PIN? About as useful as Chips-and-sauce on the net isn't it, unless you have a reader and the site is capable of utilising it.

Does this signal a growth area for fraud? Will the trend continue?

Will it take another £1.1 billion to 'protect' the online marketplace?

So fraud has only increased by 122% while sales have increased even more.

Perhaps the crooks are having enough trouble spending all that money, their 37% 'pay rise' to £290.5 million during 2007 for U.K fraud would be difficult to spend, on top of the rewards of fraud elsewhere.

Maybe there'll be a boom in card reader sales, but look out if the consumers buy them and then they turn out to be useless in the near future.

3456

Comments: (1)

Retired Member

Member since

19 Mar 2009

Location

Blog posts

6,023

Comments

6,224

This post is from a series of posts in the group:

Whatever...

A place to share stuff that isn't at all fintec related but is amusing, absurd or scary.


See all