... Eight of the 20, six women and two men, had never made an online purchase, but planned to soon. Four others, two men and two women said that they have made only one or two online purchases and were very concerned about credit card fraud. The remaining eight, five men and three women, said that they regularly made online purchases and were only moderately concerned about online credit card fraud. There is no fool proof standard for merchants to authenticate the customer in an online credit card transaction. Although credit cards seem to work beautifully in the online world, they were never designed to. Credit cards were designed to function in the physical world, where identification can be verified absolutely. It is extremely difficult to do this in the virtual world. Without an effective method of authentication, problems arise for both merchants and customers. Merchants risk higher transaction ...

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