E-commerce booming despite security FUD

Internet users are spending far more online than was predicted four years ago, despite all the fear, uncertainty and doubt generated by viruses, Trojans and other online threats, according to Verisign.Gregg Rowley, the vendor's vice president Asia Pacific, said research published by Morgan Stanley revealed that US e-commerce sales currently stand 180 percent higher than was predicted in 2001, at US$85 billion.

Internet users are spending far more online than was predicted four years ago, despite all the fear, uncertainty and doubt generated by viruses, Trojans and other online threats, according to Verisign.

Gregg Rowley, the vendor's vice president Asia Pacific, said research published by Morgan Stanley revealed that US e-commerce sales currently stand 180 percent higher than was predicted in 2001, at US$85 billion.

The research also revealed that around one third of consumers now believe they are responsible for protecting themselves online, which Rowley finds encouraging.

"We are encouraged that education seems to be starting to work but what we need now is more education. We don't want users to abandon common sense when they get online," said Rowley.

To help increase user awareness, Verisign on Tuesday launched a Web site called Verisignsecured.com, which is designed to help educate surfers on how to make Internet shopping safer.

"We have launched this site so they can go and check some of these tips. Not only what you should do in a generic sense but also what is happening in terms of new scams and rip offs," said Rowley.

Jo O'Brien, general manager of travel site Zuji, said that more people would shop online if they were certain to be protected from fraud.

"Consumers don't really understand that [there is no risk to the consumer]. Credit card companies usually will reverse the charge. They are protected but it is not in the bank's interest to say this out loud -- it could lead to high risk behaviour because they are not wearing any of the risk," said O'Brien.

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All