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Tech Industry

Short Take: Banks gear up for e-commerce

Visa U.S.A. said U.S. banks are gearing up for electronic commerce activity next year. Visa, which surveyed 70 of its member banks, co-authored the Secure Electronic Transactions protocol for processing Internet credit card purchases. More than half the financial institutions surveyed are running e-commerce projects, and two-thirds plan additional commerce programs. About 60 percent of merchant banks surveyed now handle online transactions, and security remains their biggest concern.

    Visa U.S.A. said U.S. banks are gearing up for electronic commerce activity next year. Visa, which surveyed 70 of its member banks, co-authored the Secure Electronic Transactions protocol for processing Internet credit card purchases. More than half the financial institutions surveyed are running e-commerce projects, and two-thirds plan additional commerce programs. About 60 percent of merchant banks surveyed now handle online transactions, and security remains their biggest concern.