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Online Payments: Cards Not Present?

NEW YORK April 26, 2012

Online Payments: Cards Not Present?

http://www.reportlinker.com/p0788298/Online-Payments-Cards-Not-Present.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=e-Commerce

$727bn China China

OVERVIEW

•Catalyst

•Summary

EXECUTIVE SUMMARY

•Online payments: where we are today and how we got here

– Datamonitor analyzes consumer-to-business online payments

– The emergence of the digital wallet threatens the link between bank and consumer

– Online banking e-payment targets payments to domestic online merchants

– The card industry has focused on improving security through two-factor authentication

•Online commerce is a huge and rapidly growing market

$727bn

– Infrastructure improvement has resulted in particularly strong growth in economically developing countries

– Payment cards remain the leading choice, but alternatives are growing in popularity

– Flight and hotel bookings are still the biggest online payment sector

•Understanding consumer attitudes toward online payments

– There are three barriers to online commerce: infrastructure, security and the online experience

– Convenience and comfort are the driving factors behind the popularity of credit cards as an online payment tool

•The future of online payments

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– Digital wallets and OBeP will erode the share of payment cards in online payments

ONLINE PAYMENTS: WHERE WE ARE TODAY AND HOW WE GOT HERE

•Introduction

– Datamonitor analyzes consumer-to-business online payments in this report

•The emergence of the digital wallet threatens the link between bank and consumer

– Defining online payment providers and digital wallets in the context of this report

– Digital wallets act as a payment hub for online transactions, sitting between bank and consumer

– PayPal pioneered the digital wallet a decade ago, but competition will be fierce in 2012

•Online banking e-payment targets payments to domestic online merchants

– Online banking e-payment leverages the existing Internet banking infrastructure

– iDEAL is an OBeP success story, while others are ready to roll out

•The card industry has focused on improving security through two-factor authentication

– The payment card industry has added security layers to combat fraud, at the expense of convenience

– The use of one-time passwords offers two-factor authentication for online payments

SIZING THE GLOBAL ONLINE PAYMENT MARKET

•Online commerce is a huge and rapidly growing market

$727bn

– Online commerce has experienced strong double digit growth in most countries

Sweden Australia

– Online commerce is equal to 4.7% of the total value of global consumer retail

•Payment cards remain the leading choice, but alternatives are growing in popularity

– The credit card is the clear leading choice for online shoppers due to its convenience

– However, the selection of online payment tools varies greatly by country

•Big ticket items dominate global online commerce

– Flight and hotel bookings are still the biggest online payment sector

UNDERSTANDING CONSUMER ATTITUDES TOWARD ONLINE PAYMENTS

•The concept of online commerce is well received, but barriers remain

– The majority of consumers in developed countries have purchased online

– There are three barriers to online commerce: infrastructure, security, and the online experience

– Generational change will support further growth in online commerce

•Convenience and comfort are the driving factors behind choice of online payment tool

– Credit cards are still the number one choice for consumers

– Consumers are comfortable with credit cards for online payments, but have concerns about their security

– Consumers favor digital wallet services due to their convenience and perceived security

– Cash on delivery is still a dominant payment channel in emerging countries

– Online fraud has a substantial impact on consumer behavior, driving some away from online commerce

THE FUTURE OF ONLINE PAYMENTS

•Growth in online commerce will be strongest in the east

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– Low value digital services and big ticket items will play a key role in the future growth of online payments

•Digital wallets and online banking e-payment will erode the share of payment cards in online payments

– The weak user experience will see cards continue to face challenges from dedicated online payment tools

– Growth in the use of digital wallets will drive the integration of online, mobile, and offline commerce

– OBeP has the potential to be popular among customers, but poses challenges to the issuing business

APPENDIX

•Supplementary data

•Definitions

– (Untitled sub-section)

•Methodology

•Further reading

•Ask the analyst

•Disclaimer

TABLES

•Table: The value of online payments by country ($m), 2011

•Table: The average online spend per household by country ($), 2011

•Table: Online spend as a proportion of retail spending by country, 2011

•Table: Online commerce penetration by country, 2011

•Table: Reasons for consumers not shopping online by age group, 2011

•Table: Reasons for consumers not shopping online (infrastructure factors), 2011

•Table: Proportion of consumers who have experienced online fraud and their level of concern toward online fraud in the future by country, 2011

•Table: Responses to "I prefer to be able to browse items in a store" as a reason for not shopping online by age group, 2011

•Table: Popularity of online payment tools among consumers globally, 2011

•Table: Different factors that influenced consumers’ choice of online payment tools, 2011 (part 1)

•Table: Different factors that influenced consumers’ choice of online payment tools, 2011 (part 2)

FIGURES

•Figure: Credit cards are the number one payment tool used in online commerce

•Figure: The digital wallet acts as a payment hub for a consumer’s online transactions, cutting the funding source out of the loop

•Figure: American Express introduced Serve to offer online, offline, and mobile payment services

•Figure: Visa announced that V.me will launch in early 2012

•Figure: OBeP leverages the existing Internet banking infrastructure

•Figure: 3-D Secure become a global standard for online payment authentication

•Figure: Mobile OTPs can be used with 3-D Secure to increase online payment security

•Figure: MasterCard launched the world’s first OTP display card in 2010

•Figure: The US remained the biggest online payment market in 2011

Sweden Australia

•Figure: Online spending accounted for 4.7% of the global consumer retail total in 2011

•Figure: Credit cards are the number one payment tool used in online commerce

•Figure: Choice of online payment tools varies by countries

Japan

•Figure: Cash payments account for a sizable proportion of online commerce transactions

•Figure: Flight and hotel bookings are still the biggest online payment sector

Russia South Korea

•Figure: Almost one in three consumers globally have purchased products or services over the Internet at least once

•Figure: Online experience issues are the main reason consumers do not shop online, but the youngest demographics also have issues with infrastructure

•Figure: Consumers face different hurdles to shopping online in different countries

•Figure: Lack of access to payment tools is a major barrier to online commerce

•Figure: The fear of fraud has always been a major influence on the online channel

•Figure: Some consumers do not like shopping over the Internet, and prefer to be able to browse items in a store

•Figure: An inability to browse items instore is not a major barrier to online commerce for the younger generations

•Figure: Credit cards are still the number one choice for online payments

•Figure: Different factors influence consumer choice of online payment tools

•Figure: Cash on delivery is still a n important payment method in countries with underdeveloped payment infrastructures

•Figure: Online fraud has a substantial impact on consumer behaviors

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China

Companies mentionned

Apple Inc., Bank SinoPac, CMS Energy Corporation, Compagnie Nationale a Portefeuille SA, Hutchison 3G UK Limited, Ingenico SA, Shanks Group plc

To order this report:

e-Commerce Industry : Online Payments: Cards Not Present?

Market Research Report

Industry Analysis and Insights

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SOURCE Reportlinker

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