ALTERNATIVE PAYMENT METHODS USED TO PAY 78 BLN USD

Updated: 11/12/2008 13:25
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According to the study conducted by research firm Javelin Strategy Research approximately one in five dollars spent online during the

According to the study conducted by research firm Javelin Strategy & Research approximately one in five dollars spent online during the holiday shopping season will be paid via alternative payment processors such as PayPal, eBillMe, and using prepaid or gift cards and online banking services.

In its "2008 Online Retail Payments Forecast," Javelin Strategy & Research predicts that the consumers tired with high fees charged by their credit card issuing banks will turn to the alternative payment methods.

According to the report $7.8 billion or 18 percent of $42.8 billion spent online during the holiday season, will be paid using alternative payment methods. It is expected that by 2012 the volume of such transactions may increase by one third. As for the current year the expected amount of the online payments is about $148 billion that is 3.5% of total retail sales, reports ClickZ.

? Multi-channel stores will benefit with store-branded or private-label credit cards due to consumers migrating purchases from in-store to online.
? Three emerging alternative payment methods -- eBillme, NACHA SVP, and Moneta Value -- leverage familiar consumer processes.
? With the acquisition of BillMeLater by eBay/PayPal, growth is expected for BillMeLater.
? Mobile channel growth is key for Google and wireless carriers for digital payments.


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