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Online consumer payments: Determining the key components of a winning online payment solutionProduct Type: Market Research ReportPublished by: Datamonitor Published: December 2003 Product Code: R313-6300 Description IntroductionThis 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. Table of Contents TABLE OF CONTENTSABOUT DATAMONITOR 2 CHAPTER 1 INTRODUCTION 7 The Cards & Payments Briefings Service 7 What is this briefing about? 8 Who is the target reader? 8 How to use this briefing? 8 Scope 9 Why is this briefing relevant to readers in the Asian-Pacific region? 9 Datamonitor’s definition of an online consumer payment 9 CHAPTER 2 MARKET CONTEXT 11 Consumers’ online behavior 11 Internet access is fast becoming the norm in many European markets 11 Many consumers conduct research online but fewer are willing to buy online 13 Travel is the hottest online sector 15 Making payments online is still a minority pursuit 17 Sizing online consumer payments markets 18 The US online consumer payments market dwarfs European markets 19 Conclusion 21 CHAPTER 3 COMPETITIVE DYNAMICS 22 Credit and debit cards 22 Credit cards are the dominant online payment mechanism in many markets 22 Debit cards are most commonly used online in France and the UK 25 Fighting back against online card fraud 26 Virtual card numbers: using a different number every time 29 A SWOT analysis of credit and debit cards in the online space 31 Prepaid online payment methods 32 Catering for demand among the young…and young at heart 33 Paysafecard: the pioneer European prepaid card provider 34 Splash Plastic remains one of the largest players in the prepaid space 36 A variety of other providers compete in the prepaid online payment space 37 A SWOT analysis of prepaid online payment solutions 39 P2P payment solutions 40 Establishing a niche in the online payment space 40 PayPal is the dominant player in the online P2P payments space 42 A SWOT analysis of P2P payment solutions 44 eWallets 45 eWallets: bringing security and convenience to online payment 45 Mixed fortunes in the eWallets space 46 A SWOT analysis of eWallets 49 mPayments solutions 50 mPayments solutions: giving a new role to the mobile device 51 Vodafone: taking the mPayments model forwards 51 Mobipay: a mPayments solution for payment both on and offline 52 Paybox: leaves the European mPayments market 54 A SWOT analysis of mPayments solutions 55 Conclusion 56 Benchmarking online consumer payment solutions 57 CHAPTER 4 THE FUTURE DECODED 62 Forecast of the growth of online consumer payments to 2007 62 US online consumer payments will reach EUR168.2 billion in 2007 62 CHAPTER 5 APPENDIX 67 Research methodology 67 IMPACT 67 Supplementary data 68 Definitions 69 Relevant links 71 |
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