The United States Internet-based economy alone, was more than doubled from about $15 billion in 1996 to almost $40 billion in 1997. It is estimated that it will grow to become a $300 to $350 billion dollar industry in just a couple of years. These numbers are significantly higher if we include Internet-based economy for the rest of the world. This potential growth is especially likely, when we see that companies are moving toward accepting the more comprehensive electronic business model. Major factors behind this potential growth are the widely acceptance and use of the Internet and the World Wide Web by individuals and businesses.
Hadidi, Rassule and Siripaiboon, Jatupol, "A Comparative Evaluation of Electronic Payment Systems" (1999). AMCIS 1999 Proceedings. 152.