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Alternative Payment Systems Continue to Cash in, Expected to Reach $156 Billion by 2012
(Marketwire Via Acquire Media NewsEdge) NEW YORK, NY, May 15 / MARKET WIRE/ --
Today's tech savvy and possibly even
eco-conscious lifestyles have led to paperless shopping and bill pay.
Consumers are enjoying the ease of alternative online payment systems that
offer greater privacy and security features than traditional payment
systems as well as multiple checkout options. A new report from Packaged
Facts, "The Alternative Payment Systems Industry in the U.S.," estimates
total dollar volume of online alternative payments rose 33% over the 2006
level of $28.1 billion to $37.3 billion in 2007.
When paper payments began declining in 2003, the card and electronic
payment segments of the industry increased 14% and 13%, respectively. By
2012 Packaged Facts forecasts the marketplace will see an even split for
payment options: paper forms are expected to slide to 32% while electronic
forms will capture 35% of the market and cards will keep at a steady 33%.
The battle between credit cards and alternative payments may end in
stalemate, but the battle among alternative payment systems providers is
just getting started. eBay, a long-time PayPal checkout endorser, recently
banned Google Checkout from its online auction site. According to eBay,
the ban is due to insufficient evidence of reliability.
"Though the market is dominated by PayPal, new alternative payment options
are becoming increasingly popular," said Tatjana Meerman, Publisher of
Packaged Facts. "Companies such as Amazon and Google have seen the future
growth and opportunities in the marketplace and are coming on board.
Others, as diverse as Bill Me Later, OboPay, Verizon, Chase and Wachovia
are all getting into the mix."
Packaged Facts' all-new report, "The Alternative Payment Systems Industry
in the U.S." provides an in-depth analysis of both the business-to-consumer
(B2C) ecommerce market and the consumer payments market. The report
presents the size and growth of the market using several key metrics,
including paper payments, card payments and electronic payments, as well as
trends and factors that affect the industry. Special regard is given to the
activity of top players and the varied upstarts, particularly in mobile
payments, hoping to steal share and further alter the old school payments
paradigm. Major key competitors are profiled, along with a focused analysis
of consumer payment demographics and preferences. For further information
on this report from Packaged Facts visit:
http://www.packagedfacts.com/Consumer-Online-Bill-1103803/
Packaged Facts publishes market intelligence on a wide range of consumer
industries, including consumer goods and retailing, foods and beverages,
demographics, pet, and financial products. Packaged Facts also offers a
full range of custom research services. For more information visit
www.packagedfacts.com, or contact Jenn Tekin at 240-747-3015 or
jtekin@marketresearch.com.
Contact:
Jenn Tekin
MarketResearch.com
240-747-3015jtekin@marketresearch.com
Copyright ? 2008 Marketwire
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