Text: 7 teiliges White Paper (english, 2011)
(Auszug) Research: The Evolution of Online Payment
In 2010, online payments rose 25 percent compared to the previous year (according to stats released by Packaged Facts). The current $62 billion market has doubled since 2006, the alternative payments market is expected to balloon to $127 billion by 2015.
Today there are a lot of online payment systems available; they include traditional credit cards and new technologies such as e-wallets, mobile payments, NFC (Near Field Communication) and e-cash. However, all payment systems still have to overcome issues such as inconvenience, fraud, security and speed of transaction. Overall, ecommerce and card-based transactions have become very popular amongst a vast range of merchants and is particularly popular amongst airlines and gambling websites. In 2009, there were 56.4 billion credit, debit and prepaid card transactions, totalling 3.39 trillion dollars in the US alone. (Nielson Report, February 2010.) With the success of online payment, online fraud has become a major problem for merchants and customers. The misuse of personal information for financial gain has turned into a multibillion-dollar crime, causing U.S. retail merchants fraud losses of $139 billion annually alone (an amount which is almost equal combined yearly U.S. consumer energy costs). (Lexis Nexis 2010)