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Home > Business/Finance > Financial Services > Electronic Transactions
Card scheme security initiatives
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| Published Date:
April 2003
Published By:
Datamonitor
Page Count:
72
Order Code:
R313-5650
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Introduction
The major card schemes have launched a number of new initiatives to boost the popularity of making credit card payments online. Such initiatives were launched amid much fanfare, but what success have they really achieved? This brief will analyse the success of the card scheme security initiatives and will prove an invaluable guide for banks assessing whether to sign up for these initiatives .
Scope
Coverage of card scheme security initiatives including SET, 3D-SET, 3D Secure (Verified by Visa), Secure Payment Application (MasterCard SecureCode)
Extensive primary interviews with leading executives from the major card schemes
Datamonitor's market sizing estimate for eCommerce in Europe in 2003 and over the next five years
Effectively analyzed secondary data from wide array of sources
Report Highlights
Due to consumers’ appetite for purchasing a wide range of goods and services online Datamonitor estimates that European consumer online spend in 2002 amounted to EUR25 billion
eCommerce currently accounts for a small percentage of sales volumes for the major card schemes. However, this percentage is growing rapidly. Visa USA has revealed that eCommerce currently accounts for 5 per cent of total sales volume, up from 2 per cent in 2000, and that this volume continues to grow at 50 per cent per year
3D Secure is attractive to all parties because it requires cardholders to do little that they do not already do online once they have registered with their card issuing bank
Reasons to Purchase
Determine which card scheme security initiative is winning the race to achieve critical mass in terms of cardholder, issuer and merchant adoption
Understand how card schemes are incentivizing the adoption of their security initiatives
Understand how eCommerce consumer sales volumes are likely to grow over the next five years
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