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U-commerce: Fueling economic growth with electronic paymentsMark Burbidge, SVP and GM, e-Visa
Joint UNCTAD - UN ESCAP Asia Pacific Regional Conference21 November 2002
Every economy needs secure, efficient and
reliable payments to grow
Electronic Payment Enables Commerce
Visa: World’s Largest Payments Engine
One billion cards in use globally
805,000 ATMs worldwide
US$2.3 trillion in global card sales in 2001
More than 21,000 members worldwide
40 payments each second in Asia Pacific
More than 50%
of e-commerce transactions are made with Visa
25 billion transactions a year
Universal Commerce
anywhere, anytime, any
way
POS
e-commerce
Fu
nct
ion
alit
y
Merchant Terminals, MOTO, PCs, Cell Phones, PDAs, Trading Hubs, etc.
Access points
Credit, Debit,Digital Wallets,
Multiapplication Chip, XML, etc.
u-commerce
m- commerce
Standards
Security
Trust, confidence,
ease of use
Putting the Infrastructure in Place
Defining a Secure Payment
Security
Authentication
Confidentiality
Integrity
Online Retail Market is Growing
US$M
Source: IDC 2002
Forecast B2C Commerce Market SizeAsia Pacific (exclude Japan)
Trend: Internet Usage Experience
Source: www.consult (data for Hong Kong)
Regular Internet Users’ Shopping Experience
Trend: Online Shoppers are Young
Source: www.consult, data for Taiwan
Percentage of Online Shoppers by Gender
Less than 15
Over 55
50 to 54
45 to 59
40 to 44
35 to 49
30 to 34
25 to 29
20 to 24
15 to 19
Male1%
8%
34%
16%
6%
1%
0%
1%
2%
4%
11%
22%
33%
20%
5%
0%
33%
Female
71 69 65 6252
29 31 35 3848
0
20
40
60
80
100
1H00 2H00 1H01 2H01 1H02
Male Female
Trend: Women are Catching Up
Internet users (China)
%
Trend: Proven Market Place
Source: www.consult, data Hong Kong
Repeat Purchasing by Product Segment
0
10
20
30
40
50
Bo
oks
Co
nce
rtti
cket
s
Fo
od
Mu
sic
Tra
vel
Ele
ctri
cal
app
lica
nce
s
Co
mp
ute
rh
ard
war
e
VC
D/D
VD
Flo
wer
s
Clo
thin
g
PC
Mag
azin
es
Fu
rnit
ure
Gam
es
To
ys
Once Twice More than twice
%
Consumer Concerns
Source: www.consult
Concerns About Online Shopping
Higher Security Means Higher Spend
Verified by Visa Average Transaction
2002 Averagee-Commerce Transaction
PercentDifference
Issuer A:CreditDebit
$130$118
$99$60
+32%+96%
Issuer B:CreditDebit
$227$140
$138$63
+64%+121%
Issuer C:Credit $207 $89 +133%
Prescriptions
Embrace payments technology for economic development
E-payments remove friction, increase efficiency => strengthen the economy
Support evolving structure of u-commerce
Strengthen domestic banking system
Review and align infrastructure with opportunities
Eliminate regulatory barriers to innovation
Summary
Electronic payments enable commerce and economic growth
Universal commerce