Chances are you own a credit cardTop 3 reasons why card not present fraud prevention services are the unsung heroes of America.
1. Credit Cards are the Most Popular Way to Pay in the United States
Credit and debit cards are the most popular way to pay for goods and services in the world. $4.6 trillion dollars were spent using cards back in 2013 out of a total of $8.6 trillion in payments. A third of U.S. families had four or more credit cards as of 2010, leading to an average of nearly 2 credit cards per consumer. There are over 2.7 million visa cards in the United States alone. With so much plastic out there, it is reassuring to know that there are people dedicated to secure payment solutions.
2. 24 Hour Customer Support
The problem with banks is that they close. While ATMs try to solve the issue, no one should have to live without access to their money. The fact is that 55% of consumers are always looking to pay more for better customer service, especially when it comes to card not present fraud prevention services. Of customers surveyed: 61% prefer phone assistance; 60% use email; 57% would like live online support; and 34% look for “click-to call” support automation. 65% of those asked would prefer to talk with a live person when arranging payments or requests. With so many businesses and services in the world customers are starting to demand excellence and continued support for their business.
3. The Future of Payment
Secure payment processing has become such a vital business due to the projected growth of credit and debit cards in the next few years. The number of Visa cards are expected to grow by 28% by 2017, while the number of MasterCards will increase by as much as 36%. In 2017 shoppers might spend as much as $370 billion dollars in online purchases–and that number is for the United States alone. Mobile purchases using smart phones are estimated to rise from $52 billion dollars to over $140 billion. In the time it took you to read this sentence, e-commerce has generated an additional $1.2 million dollars in U.S. sales!
