Small-Dollar Purchases Online Skyrockets
January 02, 2006
Sarasota, FL - A newly-released survey of online payment patterns reveals that even small-dollar purchases via the Web are becoming increasingly commonplace.
The survey, commissioned by Peppercoin, a producer of software for online transactions, shows nearly 20 million Americans ages 12 and older have purchased something online for less than $2 in the past year, up nearly 29 percent from September 2004 and 350 percent from October 2003.
Over the past year it has been increasingly obvious that there is a fundamental shift in the payments industry as technology makes it easier for consumers to purchase everyday items in the manner of their choosing, said Mark Friedman, president and CEO of Peppercoin.
Specific survey responses showed the following:
Growing interest in card use for small payments When specifically asked to name the smallest size transaction for which they would use debit or credit cards, 21 percent of respondents (representing approximately 45 million Americans) indicated they would use cards for transactions of less than $5. This figure has grown by roughly 23 percent since September 2004.
Increasing comfort with online micropayments Consumers are increasingly comfortable purchasing small-value items from Websites beyond digital music. Approximately 10 percent of those purchasing items for less than $2 online in the past year did so from six or more Websites, up 43 percent from September 2004 and 150 percent from October 2003.
Women increasingly likely to make online micropayments The survey reveals that today, women are just as likely as men to make purchases of $2 or less online roughly nine percent of men and nine percent of women did so this year. For women, this represents an 80 percent increase from September 2004, and a 125 percent increase from October 2003.
For additional information visit: Peppercoin
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