Concern over online fraud prevents 56 percent of the UK from buying online.
IDT rolls out anonymous prepaid card to help reduce online fraud and ID theft.
London, UK, 26 March 2007: Online fraud and identity theft is the main issue preventing people from shopping online, according to research released today from IDT Finance. The research shows 56 percent of respondents believe the risk of having their identity stolen, or an online crime committed against them, is enough to prevent people from purchasing via the internet.
Another report released, from the government backed organisation, Get Safe Online, revealed that 12 percent of people had suffered from online fraud in the last year and one in six felt it was the bank’s responsibility to protect personal information online.
“With reports that 1.7 million UK internet surfers have suffered some kind of online shopping fraud, it is not surprising that consumers are afraid to purchase online,” said Jamie King, Director IDT Finance. “Online fraud and ID theft needs to be addressed by the online retail and card market in order to ensure the entire population feels safe buying on the internet.”
Prime is the UK’s first, instant issue prepaid MasterCard, offering consumers an easy way to access the benefits of plastic whilst limiting the size and risk of fraud. Following a successful trial, IDT Prime Card can now be purchased over-the-counter at over 3,000 local high-street convenience stores displaying the PayPoint and e-pay signs throughout London.
King commented: “The Prime Card is deliberately not linked in any way to a customer's existing banking services. In fact, you don't even need to have a bank account to get a Prime Card. So, consumers get instant access to the benefits of plastic without the risk of compromising their normal credit/debit card or bank account - a compromise that can leave you open to losing very significant sums.”
“Prime makes getting plastic as easy as buying a bar of chocolate. A card can be bought without providing any burdensome identification or completing any registration forms. Just activate the card and start using it to shop online immediately,” concluded King.
Shaun Clements, IDT Prime card user, said: “With the number of scams and ID theft taking place on the internet, I have never had the nerve to buy online. I recently had to purchase a flight overseas and the amount online was so much cheaper than on the high street that I felt I would be missing out if I didn’t buy it over the internet. I ended up using a Prime Card so that I didn’t have to worry about anyone getting hold of my personal banking details.”
The card can be loaded on purchase with a value between £10 and £150 at a cost of £3 per card and is accepted in over 24.8 million outlets worldwide - wherever the MasterCard® acceptance mark is displayed.
The research was undertaken by ICM in March 2007. 1025 consumers were interviewed over the telephone, 492 male and 533 female.