Most consumers are unclear about the amount of liability coverage their credit cards provide for online purchases, according to study JupiterResearch LLC released Tuesday.
The study, commissioned by the Ottawa alternative payment provider ModaSolutions Corp., found that 68% of Internet shoppers who use a credit card are unaware of their level of coverage, though 81% of the 2,706 respondents listed fraud protection as their most important concern when using cards online.
"This data shows us that consumers want to know how they are being protected from risks of fraud," Marwan Forzley, ModaSolutions' president and chief executive, said in a press release. He also said his company's service, which lets consumers initiate payments through their banks' online bill payment services, offers with fraud protection and other guarantees that may be used in addition to those offered by merchants.
