Report: CNP Accounts for 40% of Total Value of Credit-Card Purchases in Australia
March 16, 2015
Card-not-present purchases accounted for more than 40 percent of the value of total credit-card spend in Australia, according to a supplemental report released recently by the Reserve Bank of Australia. By number of transactions, card-not-present channels accounted for 20 percent of credit-card use. By either measure, Australians are using credit cards online, over the phone and via mobile device more than ever.
“Using cards for online purchases is no longer a rare occurrence or occasional activity—it is now one of the main ways we spend on our credit cards,” said Brad Pragnell, head of industry policy for the Australian Payments Clearing Association. “And, as more of us take advantage of the choice and convenience that card payments and online shopping provides, we will also need to take care and be mindful of the potential risks.”