Visa Canada holds conference for top online retailers

Visa Canada held a conference in Toronto this morning for top online retailers. In a press release, Visa Canada reported online sales using Visa during the 2002 holiday season increased 103 percent. Also announced were survey results indicating that consumers are still concerned about security when purchasing over the Internet -- and would welcome the increased security of a password registered with their bank tied to their account.

Retailers who want to fully take advantage of the growth of online sales and fuel future growth need to adopt new Internet technology that will increase consumer confidence and reduce fraud," Internet authority Jim Carroll told the conference. "Systems like Verified by Visa(C) will make merchants more competitive and help them unlock the 85 percent of Canadian credit card holders who are avoiding holiday Internet shopping, many because of security concerns." "While holiday online sales showed a solid increase," Carroll said, "we cannot take for granted year-to-year growth without a breakthrough in online security; Verified by Visa(C) is that breakthrough and 2003 is the year."