Home Archive for category "Payments"
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Thanksgiving, Black Friday and Cyber Monday all Set New Record Highs

Desktop and mobile eCommerce sales reached a combined $14.5 billion across Thanksgiving, Black Friday and Cyber Monday, while CNP channel sales on each day increased by at least 17 percent year-over-year. The nearly $6.6 billion in eCommerce sales on Cyber Monday set a new record for the largest online shopping day in North America, as

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Alibaba Exceeds $25 Billion in Purchase Volume on Single’s Day with 90 Percent of Revenue Made in Mobile Channel

Alibaba shattered previous sales records on Single’s Day in China, the largest global online shopping day of the year, reaching $25.3 billion in purchase volume across their Taobao and TMall platforms on November 11, 2017. Alibaba’s sales on this one day exceed the total volume of online sales in the United States from Thanksgiving through

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Visa Canada Requires CVV on All eCommerce Transactions While Providing Merchants New Liability Shift

Visa Canada published a document titled The Future of Payment Security in Canada, detailing several new requirements related to ensuring security with Visa card transactions, including several new rules and deadlines coming into effect over the next few years. Notably, issuers must eliminate the use of static passwords with Verified by Visa by April 2018,

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Google and Walmart’s New Partnership Will Help Both Battle eCommerce Behemoth Amazon

Google and Walmart announced a partnership that will bring hundreds of thousands of items sold by Walmart onto the Google Express online shopping service so they can also be purchased by voice request using Google Home, much how Amazon Prime members can order with voice commands to Alexa on Amazon’s Echo or Dot. Walmart will

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Apple to Offer Text P2P Transfer and Stored Balance Account with Apple Pay Cash Card

The new Apple iPhone and operating system are set to launch in September and include new features likely to grow adoption of Apple Pay and contactless mobile payments at the physical point-of-sale. Apple Pay is set to rollout in several more countries by year’s end while the newest operating system (iOS 11) will support Apple

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Fitbit Pay Joins an Already Crowded Mobile Payments Arena

Fitbit recently unveiled their first smartwatch, called Fitbit Ionic, which will support NFC contactless payments with their mobile wallet called Fitbit Pay. Fitbit Pay will be compatible with Visa, MasterCard and American Express cards issued by partner banks and is expected to launch with the Fitbit Ionic smartwatch in October.   Fitbit Pay will work

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First Data, North American Bancard Each Complete Major Payment Acquisitions

At the end of May, First Data announced they had reached agreement to acquire another large, publicly traded payment processor, CardConnect, for $750 million. This occurred just two weeks after the privately held North American Bancard Holdings LLC agreed to acquire Total Merchant Services Inc., for an undisclosed amount, to become the 7th largest processor

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Amazon Debuts Cash-based Alternative Payment Method

Amazon Cash is the latest payment method and feature supported by Amazon and was designed for the under- and unbanked. Consumers can request a barcode that is linked to their Amazon account, and when checking-out at a partner retail store location the customer can add between $15 and $500, using cash, which will become stored

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Alibaba Spin Off to Acquire MoneyGram for $880 Million

Ant Financial Services Group, the Alibaba Group affiliate formerly known as Alipay, announced the acquisition of major money remittance company Money Gram for $880 million. While already the online payments leader in China, this acquisition would greatly increase Ant’s international and U.S. presence, with the acquisition expected to close in the second half of the

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Consumers Were Much More Likely to Shop with Mobile Devices Online Rather than In-Store This Black Friday

Although mobile eCommerce sales accounted for $1.2 billion on each Black Friday and Cyber Monday, consumers shopping in-store were much less likely to pull out their smartphones. According to one payment processor, just 0.6 percent of brick-and-mortar retail transactions in the U.S. on Black Friday were made with a mobile wallet. According to data from

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