E-commerce: online payment by card to double in 2008, to 70 million eurosPublish date: 06-12-2007
The value of Romanian electronic commerce via online payment by card will double next year, to 70 million euros, and the number of transactions is estimated at 780 000, against the 463 000 operations in 2007, according to estimates of the e-commerce solution integrator GECAD ePayment.
"Next year, the big companies that have already entered or are about to approach this channel will continue to have an important say. In this respect, we expect the entry of important company, especially from the utilities and telecommunications sectors", declared the GECAD ePayment CEO, Carmen Sebe.
ePayment estimates that telecommunications and tourism will continue to be the most demanded in the online market, and online payment of utilities and e-tail (electronic retail), areas expected to have a significant boost in 2008, also have a high potential. This year, when the value of online transactions will amount to 35 million euros, the most demanded were the telecom products (payment of invoices, prepaid cards), with a 30% weight, followed by tourism (transport and accommodation), 20%, and e-tail, 18%.
By the end of next year, ePayment estimates the existence of around 2000 online shops, as against 1600 online shops at present, of which almost half have implemented an online payment solution and a sustained activity.
"We are still a developing market, where, for the moment, there is place for everybody. Online shops will have to take into account that in the relationship with the people, services are extremely important. Probably neither in 2008, nor in 2009, but a moment will come when the market will shake off and only who understands that the provided services have the biggest contribution to their success or failure will stay in the game " said Sebe.
For 2007, ePayment estimates an almost four-fold boost of the online payment market, to 35 million euros, and the total number of transactions will exceed the level of 460 000 operations. "This evolution demonstrates that Romanians start using internet more and more for shopping. This is due to the increase of the confidence level in this payment method and to the diversification of the online shops' offer, which allows to find products easier, at an attractive price", mentioned Carmen Sebe.
The weight of bank card payment in the domestic electronic commerce is 15-20%, with a high growth potential, and the remaining transactions are paid cash or by payment order.
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