A recent forecast from Javelin Strategy and Research found that consumers will increasingly rely on online merchant services when making purchases with credit and debit cards.
The group’s most recent Online Retail Payments Forecast found that between 2011 and 2016, the use of credit cards will climb by 63 percent, while online use of debit cards is expected to see a modest 2 percent increase.
The leadership of the company said that after experiencing its fair share of struggles recently, the payment sector was looking forward to brighter days ahead.
“After several years of declining use, credit cards are poised for resurgence,” Beth Robertson, Javelin director of payments research, said in a Nov. 28 press release. “Despite the nation’s very rocky economic recovery, consumers appear to have halted their belt-tightening, and bank incentives to use credit cards rather than debit are gaining appeal.”
One of the biggest issues in the online payment industry is the use of the public cloud. In a recent release, IT security consulting firm Pure Hacking said that companies hoping to comply with Payment Card Industry standards should stay away from the online data storage method.Back To Blog