Shopping online could save you hundreds – don’t get stung with extra fees
According to Yahoo! Personal Finance, 800,000 Australians made their first purchase ever online during 2008. Parallel to an explosion of Australians heading online to buy, Visa, MasterCard and other payment processes of credit cards have gained substantial market share where as PayPal and Bank Deposit have dropped.
As internet education increases and spreads, consumers have wisened up and learnt how to successfully go about safe and secure purchases using their credit card online. Credit cards are not only the most widely accepted form of online payment, but also come with secure encrypted technology on e-commerce websites.
Why the uprising in credit cards over other forms of online payment? Well, although PayPal is useful as a payment medium when other forms aren’t available, you never need to sign up for an ‘online account’. Once you own a credit card, it’s ready to go without any form on online account management. The purchases you make will simply appear on your statement just as any retail purchase would.
The Raw Statistics
2007 < 2008
- Australians that made purchases online who used a credit card at least once: 84% < 92%.
- 51% claim that credit cards are their preferred avenue of online purchasing. 25% prefer PayPal.
- Amount of people who maintained an ‘active online shopping’ basis: 6,485,150 < 7,301,000.
What’s in Store for 2009?
Just as the trend has progressed in prior years, so will it continue in 2009. The internets knack for convenience and generally low prices will help drive the vehicle of online shopping dominance for years.
To aid in online security, the majority of credit card providers offer their own independent security and insurance to ensure our shopping safety. ANZ credit cards for instance feature the ‘ANZ Falcon‘ which informs you straight away if any suspicious or shady purchasing activity is made with your card.