Online E-Commerce Nonbank Wallet Payment Alternatives: Bankers' Friends or Foes? : Market Research Report

Online E-Commerce Nonbank Wallet Payment Alternatives: Bankers' Friends or Foes?

Published by: TowerGroup

Published: Dec. 17, 2007 - 12 Pages

Report Coverage
Retail E-Commerce Market Update: Exhibit 1 US Retail E-Commerce Sales and E-Commerce as a Percentage of Total Retail Sales (2002-08P)
Nonbank Wallets: Exhibit 2 Global MasterCard and Visa Merchant Acquiring Revenue Flow: Standard Process (2007)
Nonbank Wallet Providers: Exhibit 3 US Internet Nonbank Wallet Providers (2007); Exhibit 4 PayPal Merchant Services and Online Auction Global Payment Volume (2002-07E)
Impact on Financial Institutions
Are Nonbank Wallets Friends or Foes to Bankers?
Summary

Abstract

As online merchants demand consumer-friendly payment solutions to increase transactions and consumers demand security and choice, the number of alternative online payment providers expands. Since 2006, one category of alternative payment providers, nonbank wallets, saw an influx of new entrants: Amazon, Google, BidPay, and Moneta. As the new entrants and the incumbent, PayPal, gain traction, the banking industry grows wary. This Research Note provides a market update of US retail e-commerce, a review of five nonbank wallet providers, and an analysis of the providers' impact on the bank sponsors of traditional payment methods and the financial services industry.

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Online E-Commerce Nonbank Wallet Payment Alternatives: Bankers' Friends or Foes?

Table of Contents

Abstract