In spite of coming hybrids like Visa's e-pay, existing payments networks will support most incremental electronic commercial activity, according to a BancAmerica Robertson Stephens report, "Electronic Payments, Commerce and On-line Financial Services." In addition, in spite of electronic commerce, actual payment is likely to run over separate networks, not the Internet, for security and regulatory reasons. Business- to-business transactions will drive technology spending, making EDI a growth and business opportunity.

The report adds that home banking, electronic bill pay and presentment initiatives will continue to shift consumer paper payments to electronic.

Consumers will likely resist Internet-facilitated payments despite security measures like Reg E, which limits consumers' liability for unauthorized use of a lost or stolen credit/debit card access device; smart cards and secure electronic transaction (SET) protocols of Visa and MasterCard; and even the support of banks themselves.

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