METRICS: Nearly One-Third of Online Merchants Expect Fraud

Close to one-third (29 per cent) of online merchants say they expect to face more credit card fraud this year than in the past. The number of merchants considering credit card fraud as "serious" or "very serious" rose from 46 per cent in 2001 to 59 per cent this year. During the holiday season, three per cent of online sales will be lost due to credit card fraud. To combat that loss, 71 per cent of merchants said they’ll be using address verification service (AVS) to match order info with credit card info.

SOURCE: CyberSource

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