RealTime IT News

Amex Protects E-Commerce Payments

[Sydney, AUSTRALIA] American Express has launched a guarantee ensuring its Australian customers will not be held responsible for any unauthorized transactions made on their cards during online shopping processes.

Amex said security concerns have prevented many consumers from moving online to purchase goods and services, and that 34 percent of Amex card holders in Australia would not purchase online because of perceived security concerns.

The new guarantee explicitly extends the fraud protection that Amex cardholders are offered in the real world to the virtual world, according to Australian country manager Barry Arnold, who believes the protection to be the first of its kind in Australia.

"American Express is committee to giving its cardmembers confidence in the online world. This is as true in the virtual world as it is in the real world," he said.

e-tailers have welcomed the decision, expecting increased traffic and purchasing volumes with the assurance of protection.

"As shoppers grow more comfortable with the idea of purchasing online, it is initiatives like this that will ultimately contribute towards changing consumer behavior," said dstore chief executive David Gold.

"Concerns about security have prevented many people from purchasing online," agreed Wineplanet marketing manager Jacqui Brian. "This initiative from Amex should go a long way towards making people feel more confident about shopping online."