Acceleration of Electronic Purchases Below $5 Will Drive Microcommerce Market to $60 Billion By 2015

Wednesday 20 October 2004 10:06 CET | News

Microcommerce opportunities for new products and services will generate an estimated $60 billion in revenue per year by 2015according to Gartner.

A micro purchase is a purchase valued less than $5 and conducted electronically, where the settlement can be either prepaid, by subscription, on-the-spot, or invoiced. According to Gartner, three intersecting major trends are driving microcommerce. First, more buyers and sellers can now easily locate each other through PC-based e-commerce and increasingly through m-commerce on wireless networks. Second, completing small transactions electronically is low cost. Finally, automatic location identification for targeted content and services is growing more prevalent and sophisticated. Companies should identify whether their organization can leverage mobile and micropayment processes to economically deliver or consume services delivered in much smaller units. The availability of better micropayment systems, mobile connectivity, authentication, and more-granular products and services will transform todays commercial landscape.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce