Home Market Updates MasterCard, PayPal, Visa dominate global e-commerce market

MasterCard, PayPal, Visa dominate global e-commerce market

MasterCard, PayPal, Visa dominate global e-commerce market
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ISIS, MasterCard, PayPal and Visa are dominating the global e-commerce marketplace, Research and Markets, an Ireland-based market research firm has said.

In a new report titled “Global E-commerce Market 2014-2018”, the company forecasts that the global e-commerce market will grow at a Cumulative Average Growth Rate (CAGR) of 13.54 per cent over the period of 2013 to 2018.

According to the report, increasing Internet penetration rate is a major driver of the market growth helped by demand for digital goods.

Meanwhile, increasing risk of online frauds and associated costs are major factors that could challenge the growth of the market, according to the report.

Other players in the market mentioned in the report include Google Inc., Citibank NA and American Express Serve.

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929