02 Oct '11, 9pm

The future of payments: According to a recent PayPal survey, Singaporeans spent S$1.1 billion on online shopping...

Payments have evolved along with commerce, or more accurately, where commerce has risen, payments have adapted with new products, new entrants, and new rules of the game. If the first decade of this millennium is defined by the rise of the Internet, e-commerce, and electronic payments, what will the next 10 years look like? While it took a full decade for e-commerce and e-payments to become mainstream, we are already seeing glimpses of the future in the first years of this decade. According to a recent PayPal survey, Singaporeans spent S$1.1 billion on online shopping last year and this will increase to S$4.4 billion in 2015. Today, analysts estimate that almost 40 per cent of offline retail is in fact influenced in some way by online activities like search, comparison shopping and couponing. In addition, new markets such as digital content, social networking and group buy...

Full article: http://www.todayonline.com/TechandDigital/Digital/EDC1110...

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