Title: U-commerce: Fueling economic growth with electronic payments
1U-commerce Fueling economic growth with
electronic payments
- Mark Burbidge, SVP and GM, e-Visa
Joint UNCTAD - UN ESCAP Asia Pacific Regional
Conference 21 November 2002
2Every economy needs secure, efficient and
reliable payments to grow
Electronic Payment Enables Commerce
3Visa Worlds Largest Payments Engine
40 payments each second in Asia Pacific
805,000 ATMs worldwide
One billion cards in use globally
More than 21,000 members worldwide
More than 50 of e-commerce transactions are
made with Visa
US2.3 trillion in global card sales in 2001
25 billion transactions a year
4Universal Commerce
anywhere, anytime, any way
5Putting the Infrastructure in Place
6Defining a Secure Payment
Authentication
Confidentiality
Integrity
7Online Retail Market is Growing
Forecast B2C Commerce Market Size Asia Pacific
(exclude Japan)
USM
Source IDC 2002
8Trend Internet Usage Experience
Regular Internet Users Shopping Experience
Source www.consult (data for Hong Kong)
9Trend Online Shoppers are Young
Percentage of Online Shoppers by Gender
Female
Male
0
1
Less than 15
5
8
15 to 19
20
34
20 to 24
33
33
25 to 29
22
16
30 to 34
11
6
35 to 49
1
4
40 to 44
2
0
45 to 59
1
50 to 54
Over 55
Source www.consult, data for Taiwan
10Trend Women are Catching Up
Internet users (China)
11Trend Proven Market Place
Repeat Purchasing by Product Segment
Source www.consult, data Hong Kong
12Consumer Concerns
Concerns About Online Shopping
Source www.consult
13Higher Security Means Higher Spend
Verified by Visa Average Transaction 2002 Averagee-Commerce Transaction Percent Difference
Issuer A Credit Debit 130 118 99 60 32 96
Issuer B Credit Debit 227 140 138 63 64 121
Issuer C Credit 207 89 133
14Prescriptions
- Embrace payments technology for economic
development - E-payments remove friction, increase efficiency
gt strengthen the economy - Support evolving structure of u-commerce
- Strengthen domestic banking system
- Review and align infrastructure with
opportunities - Eliminate regulatory barriers to innovation
15Summary
- Electronic payments enable commerce and economic
growth - Universal commerce