Consumer Payment Card News

Global Online Sales Boom

RAM Research Group projects that global consumer online purchases will grow at a rate between 65% and 70%, compounded annually, over the next five years, driving online sales to more than $200 billion by the year 2003. For this year, RAM Research estimates that nearly $31.0 billion will be spent over the Internet worldwide, about 67% more than 1998’s total Internet purchase volume. The research firm says Internet payment card volume, as a percentage of total sales, will drop from 90% to 82% over the next five years.

Global Consumer Online Sales Projections
                   1998   1999   2000   2001   2002   2003
Global Online Sales$18.5b$30.9b$52.5b$88.2b$147.3b$216.9b
Card Volume        $16.7b$21.7b$45.2b$74.1b$122.3b$177.9b
                 Source: RAM Research Group  (Frederick, Maryland)

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