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If there are market transaction dispute, if there are retail services uncertainties, if there are incongruence and fraud when it comes to purchasing and payment processes we normally think that the victims in all of these cases are the consumers.

On the television, radio, newspaper or internet there are always going to be concerns addressing and uplifting the consumers' rights and privileges. To protect the majority-mainly consumers-laws are pass to heighten their protection. Consumers are important and so they are protected however not all the time they are the victims.

Now that online transaction has deeply rooted itself in today's market economy. Almost all the possibilities were open not only that you can make orders through the internet but also you can arrange payments through it.

There are a lot of changes in the world of market economy nowadays. The face to face interaction between the one who buys and the one who sells is necessitated by the purchasing process, it is easier then to identify if the person who buys can really afford the product and if the person who sells can really provide the product. However most of the transactions made are not done face to face rather it is done through online processing. The problem comes with the payment using credit cards.

When it comes to credit card fraud we might as well see credit card holders as the sole victims in the process but reality says otherwise. Online merchants suffer to greater extent. Credit card holders when victimized by fraud can pursue reversal to whatever transaction was made using their account. In fact 90 per cent of credit card holders who happened to be victims of credit card fraudulent incidents are reimbursed.

Online credit card fraud especially in doing payments is really challenging the world of online transaction. Both the buyers and the sellers are ending up being victims moreover mistrust between them is growing.

The first problem is on how buyers can be assured that the information he/she will be disclosing online will be handled by authorized personnel only. For the customers privacy of their data needed to complete the transaction must be prioritized.

The second problem comes from the merchant's concern. When victimized by credit card fraud, 75 per cent of online merchants needed to deal with the costs involved. For airline retailers, the assurance that the buyers are making legitimate and valid transaction is primary.

Why we rarely hear about online retailers stories about how bad it is when they become victims of credit card fraud is because most refuse to disclose fraud figures since it can be a reason for customers to lose confidence to do transactions with them.