$12.5 bln in online payments in 2005
Celent Communications anticipates the online payment industry in the US will grow significantly over the next few years, rising to $12.5 billion in revenues by 2005. Among its key findings, Celent 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.