Paypal: online commerce to reach $30b by the new year
Online payment system PayPal has forecasted local online commerce will reach $30bn by the end of the year, according to its Secure Insights report.
The forecast comes as eBay predicts this week to be the busiest ever in online shopping and Australia Post will shift an extra 3m parcels this December.
Elena Wise, acting MD of PayPal Australia said: “Over the last year, online commerce in Australia has grown at a rate of 11% and a huge number of Australian and international retailers have opened their virtual store doors to Australians. This year, consumers will be shopping across a mix of retail channels, from their PCs, to their mobiles to in-store. Wherever they are shopping, consumers are looking for flexibility, convenience and security.”
In preparation for Christmas, the week will be eBay’s busiest with the spending spree culminating in 1.6m Australians visiting eBay.com.au on Sunday 11 December.
The online auction site recently launched an attack campaign in response to David Jones’ price matching promises.
Deborah Sharkey, vice president at eBay said: “When it comes to hunting down the best products at the best prices, Australian consumers have stepped up a gear in the last 12 months and are now an army of savvy online deal hunters. With more than 10 million Australians now shopping online, smart shoppers can get the best deals on gifts and save time and energy to spend on the most important ingredients of the festive period – friends and family.”
Australia Post is making an effort to be ready for the increase. Ahmed Fahour, MD and CEO said: “We’re opening more than 700 of our retail outlets for extended hours on weekdays and have 2,400 retail outlets now open on Saturdays to make collecting your parcels even easier. Since July, we’ve seen parcels growing at almost 13 per cent compared to the same time last year – a figure which can be directly linked to Australians taking up online shopping in record numbers.”
These are press release numbers.
The online share of purchases of consumer goods for household goods – the things we buy and used to buy from retail shops is less than half the number in this report.
Australians are heavy users of online payments – everything from speeding tickets to plane tickets but online retail payments are a small but growing share of retail spending.
Its a generational thing crossed with brand security reputation. Older generations do online payments and online retail with safe brands. The digital kids do it all with just about everyone.
Paypal needs to allow casual shoppers to opts to send parcels to their PO Box. They just changed the system to prevent it, citing anti-money laundry law. Plain silly, a PO box is more secure than a street address.
Paypal are the worst. Their rules and regulations are crazier than any bank and they choose who to cut off for any reason, without appeal. They also enjoy holding your money for over 6 months, citing ‘possible refund requests’. 3 months, understandable. 6 months means you’re earning interest.
Their draconian policies have pissed people off and we’re finding new and better ways to pay online. Sorry eBay, you bought a sinking ship.
I sold something over Ebay and got totally scammed with the buyer sending me fake PayPal receipts saying he’d paid when he clearly hadn’t. When I reported this to PayPal – that someone was faking their emails and defrauding their business – they never even bothered to answer back! Won’t be in a rush to use them again!
What a shame PreyPal won’t get to benefit from this growth in online commerce.
Dream on, Elena and Debbi …
Study Sees PayPal Adoption Down Among Multi-Channel Merchants
“Twenty-two percent of EPIS merchants who had accepted PayPal on their own websites and off-eBay stores in October 2010 stopped accepting PayPal as a payment method on those sites in October 2011.
“There were 19% more merchants who accepted credit cards on their own websites and stores in October 2011 than in October 2010.”
http://www.auctionbytes.com/ca.....11/i21/s02
And, Visa is to launch its new “V.me” service next year. The idea is similar to that offered by the clunky “merchant of sorts”, PreyPal: you upload details of your payment cards to Visa—even if they’re not Visa-branded—and Visa will process the payment without ever revealing your card details to the merchant.
What can be said other than, Halleluiah, there will be freedom from the clunky PreyPal for all off-eBay online merchants after PreyPal finally atrophies back to it’s mandated use on its ugly mother’s marketplace, the rusting old hulk “eBay”, from whence, without its mandated use thereon, PreyPal would never have gotten to be where it is today …
And, be in no doubt, except for its mandated use on whatever will be by then left of the Donahoe-devastated eBay Marketplace, the clunky PreyPal (and all other middlemen payments processors) will elsewhere be buried by Visa’s professional offering, “V.me”, once it is up and running in 2012.
PayPal claims PayPal Is Not a Payments Processor!
http://forums.auctionbytes.com.....hp?t=24148
Enron / eBay / PayPal / Donahoe: Dead Men Walking.