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E-mailed payments a growth market in e-commerce, study says
E-mailed payments for e-commerce transactions will continue to grow rapidly, generating $326 million in revenue for service providers like PayPal in 2005, an increase of 139% over 2003, Celent Communications reports.
E-mailed payments for e-commerce transactions will continue to grow rapidly, generating $326 million in revenue for service providers like PayPal in 2005, an increase of 139% from $134 million in 2003, market research firm Celent Communications reports.
Celent also notes that e-commerce payment transactions will also continue to grow at a fast pace among a broader range of what it defines as innovative payment services providers, including micropayment providers like Bitpass and Peppercoin, invoicing providers including I4 Commerce and PaymentOne, and services such as PaymentOne that handle e-commerce payments through consumers’ monthly telephone bills. Celent notes that, as a whole, innovative service providers will generate $375 million in revenue next year, up 143% from $157 million in 2003.
E-mailed payments are becoming particularly popular among small online retailers as well as for online auctions, Celent says. It notes that e-mailed payments will account for 13% of all U.S. e-commerce transactions in 2005, up from 8% in 2003 and 5% in 2000.
Celent notes that invoicing, while remaining a marginal segment of e-commerce transactions for the near future, will account for 7.3 million e-commerce transactions with a total value of $294 million in 2005, up 61% from 2.8 million transactions with a total value of $69 million in 2003.
Telephone billing will capture 24.4 million e-commerce transactions next year for a total value of $439 million, up nearly 100% from 12.4 million transactions with a total value of $273 million in 2003.
The value of online micropayments transactions under $5 will amount to $252 million in 2005, up 97% from $128 million in 2003, Celent says.
Celent adds that check or debit cards will account for about 40% of Visa and MasterCard online payments in 2004 and 2005, up from 35% in 2003 and 10% in 2001.