BUSINESSES ARE MAKING MONEY OVER THE 'NET
By Adnews Staff
Businesses are making money over the Internet, according to a study done for Internetsecure Inc. of Oakville, Ont. The average value of a transacton over the Internetsecure network was $54.19, with some merchants averaging up to 700 transactions each week. Last year, 0.16% of transactions were charged back, which means a majority of users are using their own, legitimate credit card numbers. Approximately 24% of all transactions across commerce-enabled merchant Web sites were rejected. The leading causes of errors included: double clicking the pay button by mistake, consumer keying errors and mischievous activity. Other results of the survey included: American consumers represent 58% of all transactions over Internetsecure's network. Ten per cent of all transactions come from outside of North America, involving 85 countries around the world. Transaction volumes remain fairly constant 24-hours-a-day, seven days a week, with Mondays being slightly busier than other days. Internetsecure provides over 100 merchants with secure, on-line, real-time credit card authorization similar to the process used at traditional retailers. The study was done by Ernst & Young of Toronto.