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Home > Business/Finance > Financial Services > Electronic Transactions
Online consumer payments: Determining the key components of a winning online payment solution
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| Published Date:
December 2003
Published By:
Datamonitor
Page Count:
74
Order Code:
R313-6300
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Introduction
This briefing examines the past, present and future of the global online consumer payment market. It highlights which payment solutions have been developed, which have been successful and which have failed, indicating the key components of a ‘winning’ online payment solution and positioning solutions relative to opportunities in the online and offline space.
Scope
· Discussion of developments in the online consumer payments market from around the world.
· Incorporates Datamonitor’s opinion on ‘winning’ online payment solutions.
· Includes market sizing and forecasts of online consumer payment volumes to 2007.
Report Highlights
In the online and offline environment there is therefore an opportunity for a payment method that has the acceptance and portability of a credit card but which is available to all consumers. Prepaid vouchers and prepaid cards have emerged to capitalize upon this opportunity.
Maximizing merchant involvement, in terms of card acceptance, as quickly as possible is critical if prepaid online payment solutions are to succeed. Failure to do so gives consumers little incentive to sign up and without relatively high numbers of cardholders the business model for these solutions can never be viable.
· The strengths of P2P payment solutions are multi-various. They are suited to high and low value transactions. They have a ‘killer application’, that is online auctions, as well as number of other uses. They also use e-mail, a communication medium that many people are familiar with, and offer quick and secure transaction opportunities.
Reasons to Purchase
This briefing will allow you to learn more about both the current state of play in the online consumer payments market and its future state of play.
Determine which solution is likely to be the most successful in your market.
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