Online stores have experienced phenomenal growth in recent years but in my mind the real potential of this market is untapped.

Why?

Well the Internet is littered with stories and quotes relating to bad online experiences and in particular the lack of security when it comes to sharing your personal information, mostly credit card details.

Security of the information provided online by consumers is uppermost in their mind and whilst this line of thought exists those that market their goods and services online are not going to be able to capture sales to the levels they perhaps anticipated.

Other forms of payment outside of using a credit card have been tried but some of these have been frought with danger and fraudulent transactions have been recorded through these channels as well.

I should point out that there are issues on both sides of the fence, there are some operators online that do not prescribe to good honest dealings and conversely there are consumers as well that also set out to do deals with no intention of paying.

This has compounded the problem simply because it takes very few to destroy the credibility of many…

So what is one to do?

As with anything one should do due diligence first, ask around, do a quick search online for reviews or comments in regards to the individual or company you are considering dealing with, contact the supplier via email or phone and ask more questions, do they offer other forms of payment, etc, etc…

Remember that most businesses are genuine and legitimate but unfortunately they have been categorized as possibly being untrustworthy because of the actions of a few.

Moving forward it is clear that the market needs to develop a payment system that is more secure and reliable than anything currently available for the real potential of online marketing to be reached.

In the interim the old adage applies, Let the buyer beware!

Tags: , , , ,