VeriSign Brief Shows E-commerce Growth

• By theWHIR.com , February 09, 2004

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February 9, 2004 -- (WEB HOST INDUSTRY REVIEW) -- VeriSign (verisign.com) announced on Monday that it has released the second edition of its quarterly Internet Security Intelligence Briefing.

The briefing, based on data compiled from VeriSign's domain name, authentication, managed security and payment and fraud protection services, reports on trends in Internet usage, security and fraud.

The company said in a release that its most recent briefing "displays clear and dramatic growth in secure online commerce while also revealing alarming trends in increased online fraud and identity theft."

According to the briefing, online commerce increased by 59 percent during the 2003 holiday season while merchants rejected 7 percent of overall transactions due to their unacceptable risk. VeriSign also found that the value of the average Internet transaction increased by 14 percent to $152.

In terms of overall volume, online sales in 2003 increased from 4 billion to $6.4 billion over the previous year.

VeriSign also reported that security event growth per device was 176 percent higher in December 2003 than in May 2003. The United States led in total volume of fraud and Indonesia displayed the highest percentage of fraud per transaction.

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