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New Payment Options: E-Commerce Looks Beyond the Credit Card

Published by: TowerGroup

Published: Jul. 11, 2005 - 11 Pages


Table of Contents


TowerGroup Take-Aways




Report Coverage




The Drive to Offer Online Payment Alternatives

Selling to the Non-Cardholder

Increasing Merchant Numbers, Decreasing Merchant Size

Reducing Merchant Fees


Exhibit 1: Fees Charged to Online Merchants: Typical Bank Card, eCheck, PayPal, and Bill Me Later (2005)


Converting Additional Customers

Increasing Total Sales

Building on Security Concerns




Keeping It in the Family: Cards as Alternatives


Exhibit 2: Percentage of Online Retailers That Accept Gift Cards for Online Payment (2003-04)




ACH and Checking Account Access Products


Exhibit 3: Quarterly WEB Transaction Volumes (2002-04)




Emerging Payment Alternatives

PayPal


Exhibit 4: PayPal Services for e-Commerce Web Sites


Bill Me Later


Exhibit 5: Example of the I4CommerceBill Me Later Payment Option for E-Commerce Web Sites


Additional Options


Exhibit 6: Example of the Western Union Online Payment Option

Exhibit 7: Use of Internet Payment Alternatives by Merchant Size (2004)




Summary

Abstract

This TowerGroup Research Note reviews the emergence of today's new breed of Internet payment options, showing how alternatives to traditional credit cards can meet both consumers' and merchants' needs. The research examines some of these new payment methods, overviews their positioning in the market, and explores their potential success in generating new sales for merchants and establishing online wallet share.

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