Payments by the numbers

One recent report we received indicates revenue for online retailers has grown significantly. Another predicts mobile payments will have an impact on business that is comparable to or greater than that of the Internet. Meanwhile, government statistics indicate card theft is on the rise.

Revenue up for online retailers

E-commerce technology and services company MarketLive Inc. released its Q4 2011: A Look Ahead at 2012 report, which examines quarterly performance data from 100 retail websites. The report determined revenues for online merchants rose significantly during the fourth quarter 2011.

According to the report, revenue for online retailers was up 20 percent in the fourth quarter, qualified visitors climbed 12 percent, orders grew 13 percent, average order value rose 7 percent, sales conversion was up 4.3 percent and cart abandonment declined 3 percent.

Based on these numbers, MaketLive is projecting continued growth in online retail sales through 2012.

CIO take on mobile versus Internet payments

A new study released by Accenture revealed that information technology officers and chief information officers (CIOs) believe mobile payment processing will have an equal or greater impact on their businesses than the Internet.

The Accenture 2012 CIO Mobility Survey found two-thirds of CIOs surveyed believe mobility is creating a bigger impact on their businesses than the Internet and plan to invest over 20 percent of their discretionary budgets into development of mobile capabilities in 2012. Ninety-four percent of emerging-market CIOs said they plan to direct at least 20 percent of discretionary budgets toward mobility projects; however, only 35 percent of mature-market CIOs said they would do the same.

In a similar finding, 48 percent of emerging-market CIOs said they have a mobile strategy in place; only 12 percent of CIOs in mature markets have such a strategy.

Security and costs were considered the biggest impediments to the growth of mobility by the companies surveyed.

Stats show uptick in credit card theft

Identity Stronghold, a manufacturer of security shields that protect radio frequency identification (RFID) cards from electronic theft, revealed the results of a Freedom of Information Act request it filed with the U.S. Department of Justice for information from the Bureau of Justice Statistics' National Crime Victimization Survey.

The company learned that the most recent Justice Department statistics available for credit card theft only cover the years 2005 to 2007. Statistics from that period showed a 31 percent increase in credit card theft, and the number of households that fell victim to more than one type of identity theft grew 37 percent. Identity Stronghold predicts when the department releases updated statistics, they will show credit card theft increasing in proportion to growth in issuance of new RFID cards.

Identity Stronghold believes thieves are able to steal data from RFID-enabled cards with technology that can read a card's radio signal and steal the card owner's personal information while the RFID card is still in the consumer's wallet. The company said patent documents filed by Visa Inc. in 2006 concede RFID-enabled cards are vulnerable to electronic pickpocketing.

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