Creditnet News Story
Credit cards continue to be top option for online shoppers
Friday, March 12, 2010
By William Davis
A study from Javelin Strategy and Research shows 70 percent of web shoppers used a credit card.
A recent study showed that credit cards were the payment method of choice when it came to online purchases in 2009.
According to Javelin Strategy and Research, 70 percent of consumers who shopped online used a credit card in order to transact business. The next highest form of payment was debit cards, which came in at 55 percent.
The study noted that from 2008 to 2009, the portion of online transactions associated with a debit card increased 2 percentage points to 28 percent overall. However, dollar amounts associated with these purchases increased 21 percent.
"During the recent economic downturn, consumers turned increasingly to debit cards as an option to help them control spending," the report said, adding that debit was also an option for people who reached their limits on credit card accounts.
Though debit cards may help avoid additional spending, consumers should keep in mind that a credit card offers certain advantages when making purchases. Along with the potential for rewards points, consumers may find they have more protection regarding disputes on transactions.
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