Celent predicts that the online payment industry will capture US$12.5 billion in revenues by 2005, up from US$8.0 billion in 2003.
In a new report, “Online Payments in The U.S.: Navigating The Marketplace,” Celent examines the online payment marketplace, its key participants, and the major trends affecting it. Based on over 100 interviews with industry executives, the report is a sweeping review of one of the fastest-growing segments of the U.S. payment industry.
Among its key findings, the report anticipates that innovative payment services providers will experience a 55% revenue CAGR between 2003 and 2005, the industry�s fastest growth. The report points to significant opportunities lying ahead for some payment services providers� such as check authorization providers�and downplays the prospects of others, such as micro-payment ventures. Celent predicts that the e-check�s share of e-commerce value will climb to 9% in 2005, up from 6% in 2003 and 3% in 2000.
“Some issues, like micro-payments, are currently receiving a level of attention that is out of sync with the real opportunities,” comments Gwenn B�zard, a Senior Analyst at Celent and author of the report.
In reference to e-check�s growing market share, B�zard adds, “The check authorization business might not be the sexiest thing on earth, but that�s one area where sound opportunities lie ahead.”
The 43-page report contains 31 figures.
A Table of Contents is available online.
Celent’s service offering falls into two categories, consulting and research, each of which is dedicated to technology in the financial services industry. We help banks, brokerage firms and insurance companies use IT to enter new markets in the shortest possible timeframes. All of our services are geared towards facilitating better informed, faster decision making. For more information visit www.celent.com.