45pc in UAE 'scared to use credit card online'
Dubai, November 11, 2012
About 45 per cent of credit card holders in the UAE prefer not to use their credit cards online fearing fraud, according to a recent study.
However, using credit cards online was far safer than using it anywhere else, said Martin Waldenstrom CEO, cashU, a payment service provider with a focus on Internet payments.
“Cards are being compromised. The majority of cards which are compromised are compromised offline. At places like restaurants and hotels. Card details are copied and details stolen. This is why payment gateways mitigate the risk of phishing and card cloning. This is why we are encouraging consumers to turn to payment gateways as a reliable avenue,” said Waldenstrom said.
Payment gateways in the UAE are the safest option for consumers in order to avert fraud. With the rise of online payment gateways in the Middle East the eCommerce landscape is changing leading to an exciting online era for consumers, he said.
Payment gateways provide merchants with a unique safe payment solution that reaches millions of potential online buyers in the Mena region.
He added that in the next few years there would be new apps and technology that would take online safety to the next level and reassure consumers. “Near Field Communication (NFC) is the next step in online safety. Consumers would simply wave their mobiles over a laptop and make a payment. In the next few years there will be a huge shift towards this.” - TradeArabia News Service