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The ePayments and eBanking Market Outlook: Competitive Advantage and New Profit Opportunities in a Rapidly Developing Market
Business Insights, Aug 2004
When the Internet first emerged, many commentators predicted it would overtake traditional banking channels and become the single most important consumer banking channel. However, whilst the Internet has had a huge impact upon the banking landscape, the bank branch has remained a vital part of the banking industry. The ePayments and eBanking Market Outlook: Competitive advantage and new profit opportunities in a rapidly developing market provides a comprehensive analysis of eBanking and ePayments industry. The report examines the position of online in the banking distribution channel mix, details the prospects for growth in the pre-paid card and ePurse markets and outlines new initiatives in combating online fraud.
Key Issues Examined in this report:
- Card fraud levels are rising. Find out how the major card schemes intend to respond and about their aims to be chip and EMV (Europay, MasterCard and Visa) compliant by 2005.
- Multi-channel banking distribution. Read our examination of the value of branch, call-centre, ATM and the Internet as banking distribution channels, their strengths and weaknesses.
- Biller-direct electronic bill payment and presentment.
Understand where, why and for whom this model has proven
successful, the advantages it provides and which types of company have already successfully implemented it.
- International consumer money transfer is covered in depth by this report, including analysis of the main providers of consumer money transfers, the methods and how the market is developing.
This report answers questions such as:
- Which European countries will benefit most from growth in the Internet banking customer base over the coming years?
- What has driven the growth in eCommerce and what are the implications for online transactions?
- How do customer attitudes towards online transactions (such as online bill payments) vary across Europe?
- Which banking distribution channels are most popular, and why?
- How has the role of the Internet as a banking distribution channel changed in the recent years?
- What are the most profitable target markets for prepaid cards, and why?
Key findings of this report:
- There are wide differences in numbers of customers per branch across European countries, nevertheless branch banking remains the most important channel.
- 8.4% of the European population, over 32 million individuals, are teenagers representing a significant market for new products including pre-paid cards.
- Call centres are the second most important distribution channel moving a range of functions out of branches, requiring fewer staff and ultimately cutting costs.
- Credit cards remain a safe way to buy online. Less than 8% of Visa spend in the EU is fraudulent, although ‘card not present’ fraud is on the increase.
- The teenage demographic represents a significant potential customer base for pre-paid cards as credit cards are not available to 10 to 17 year olds in most countries and debit cards in only a few.
This report will enable you to determine the following:
- Determine how the Internet fits into a multi-channel strategy using this reports analysis of the development of online and other banking channels supported by branch statistics.
- Improve strategic planning decisions based on the forecasts of European Internet banking customers to 2007.
- Assess the potential of prepaid cards market. The size value of key target customer groups.
- Predict online consumer behaviour and purchasing based on the results of IMPACT, our unique primary customer research programme conducted in France, Germany, Italy, Spain, and the UK.
- Evaluate the most popular card scheme security initiatives as favoured by cardholders, issuers and merchants.
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