Financial Services Industry
Industry: Email Alert RSS FeedOnline Payments: New Cardless Choices Clicking
Bank Technology News, September, 2006 by Glen Fest
Although the $239 billion in current credit card e-commerce transactions will grow to $340.9 billion by 2009, a recent Celent report on the online payments arena suggests this will still represent a precipitous decline. The 86 percent market share of credit/signature debit cards in online payments will fall below 50 percent in just three years, due to the strident growth in alternative payment services like eBay's PayPal and newly unveiled e-wallet rival, Google Checkout.
The looming e-payments battle between the two giants is frequently positioned as to how these two will divide the spoils of the card issuers' loss and how their alliance and bundling strategies will partition the market, such as when eBay immediately booted Google Checkout from its accepted payor list. But...
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