Mastercard has established several partnerships in order to provide contactless payments for public transport in more than 80 cities all around the world.
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The European Commission has announced that a decision has been taken on the European e-invoicing standard (EN), pursuant to Directive 2014/55/EU on e-invoicing in public procurement.
DHL Express has found that cross-border retail volumes are predicted to increase at an annual average rate of 25% between 2015 and 2020 (from USD 300 billion to USD 900 billion).
According to the report entitled The 21st Century Spice Trade: A Guide to the Cross-Border E-Commerce OpportunityOnline, DHL Express considers that retailers are also boosting sales by 10-15% on average by extending their offering to international customers.
Mobile online sales in the U.S. totaled more than $1 billion in a single day for the first time ever on Friday. While e-commerce merchants are still tallying the official results for Cyber Monday, on Thanksgiving Day and Black Friday, online retailers racked up more than $5 billion in sales, according to software giant Adobe, a result that was in line with its pre-holiday predictions. Online sales on Black Friday alone totaled $3.34 billion, up nearly 22 percent from last year, with m-commerce accounting for $1.2 billion, a 33 percent increase from 2015. And conversion, normally a big problem for e- and m-commerce retailers, was an unexpected bright spot, the report said
The global retail ecommerce sales are expected to reach USD 1.915 trillion in 2016, accounting for 8.7% of total retail spending worldwide.
Retail ecommerce sales include products and services (barring travel, restaurant and event ticket sales) ordered via the internet over any device. While the total global retail sales is going to reach USD 22.049 trillion in 2016, up 6.0% from 2015, the digital portion of sales continues to expand rapidly, with a 23.7% growth rate forecast for 2016, emarketer.com reports.
The global B2C ecommerce sales of products and services continued to grow in 2015, according to a recent study.
Compared to 2014, they increased by 19.9%, resulting in an online turnover of USD 2.3 trillion. As a region, Asia-Pacific accounted for the largest share of this amount, with its B2C ecommerce sales surpassing the USD 1 trillion mark. China continued to possess the largest B2C ecommerce market, with its total online sales amounting to USD 766.5 billion.
A Credence Research report has forecasted that the biometrics technology market will reach USD 34,5 billion by 2022.
The report called ‘Biometrics Technology Market – Growth, Share, Opportunities & Competitive Analysis, 2015 – 2022’ suggests that this significant growth is due to the increased adoption in both public as well as private sector. Governments around the world are adopting biometric technologies for access authorization, identification and verification, e-passport management and national border control projects.
Инвестиции в финтех-компании по итогам прошлого года достигли 19,1 млрд долларов США, подсчитали эксперты из компании KPMG в своем ежеквартальном отчете Pulse of Fintech.
The digital commerce market is set to increase from USD 4.9 trillion in 2015 to over USD 8 trillion by 2020, a new research found.
The digital commerce market will see contributions from digital banking, remote digital goods and remote physical goods, juniperresearch.com reports.
The global value of mobile and wearable contactless payments is expected to reach USD95 billion annually by 2018, up from less than USD35 billion in 2015, according to a new study.
According to the new research from Juniper Research – Contactless Payments: NFC Handsets, Wearables & Payment Cards 2016-2020 – the emergence of a range of connected wearables has piqued the interest of NFC stakeholders. It anticipated that devices such as watches and wristbands would be in the vanguard of these developments, although it cautioned that the sector would take several years to reach critical mass.
Debit cards are expected to dominate the payments market in terms of most preferred payment method in France by 2019 as consumers are getting increasingly attracted by the convenience of contactless payments and the greater use of debit cards for online transactions, a recent study reveals.
This growth in debit cards usage will be partially supported by consumer awareness of debt control and the continued migration of low-value cash payments to debit cards. Moreover, an increase in the use of contactless cards will also be one of the major drivers of this trend, according to a report issued by Timetric, a provider of online data, analysis and advisory services on key financial and industry sectors.
Globally, more than 70% of invoices are paid late, according to new data from MarketInvoice, a UK-based company that lends to businesses based on their outstanding invoices.
MarketInvoice gathered the statistics by looking at 30,000 invoices from 1.000 companies across 80 countries.
During the interval November 2015 – January 2016, 51 percent of UK online sales have been registered via smartphones and tablets, according to data from IMRG and Capgemini.
The report mentions this is a major increase as compared to Q3 2015 when only 45 percent of ecommerce transactions have been via mobile. The same source reveals that desktops and laptops accounted for 49 percent of total ecommerce sales, while tablets were used in 33 percent of cases. Smartphones ranked third with just 18 percent.
When it comes to visits to ecommerce websites in the UK, mobile devices accounted for two-thirds (66 percent) of traffic during the interval under review, up from 63 percent in the previous period. And it’s eleven percentage points higher than the same period in 2014, when mobile devices accounted for 53 percent of visits to retail websites.
According to Richard Tremellen from Capgemini, the 51% of UK ecommerce sales that happened via mobile devices is a very significant milestone in the history of the online retail sector.
Peoples Trust, a Canadian federally chartered prepaid card issuer in Canada, recorded significant growth in 2015 with the addition of 150 new programs and a nearly 19% increase in CAD volume from 2014.
Canada is one of the fastest growing prepaid markets and has emerged as a lead market for global fintech expansion in recent years. Peoples Trust specialises in helping card program managers establish, launch and grow card programs across Canada through BIN sponsorship, regulatory expertise and market guidance.
Mobile point-of-sale shipments are expected to reach 245 million units by 2022, increasing from 11.87 million units in 2014, a recent research shows.
The report focuses on the global market with in-depth analysis of four countries namely, China, India, Brazil, and Mexico.
According to Transparency Market Research, the market is estimated to expand at a CAGR of 47% during the forecast period from 2014 to 2022.
In the European Union (EU), the proportion of individuals aged 16 to 74 having ordered goods or services for private use over the internet has continuously risen, from 30% in 2007 to 53% in 2015, a recent research study reveals.
This means that the EU has exceeded its Digital Agenda target of 50% by 2015. Among EU internet users who did not make any online purchase in 2015, 75% reported that theypreferred to shop in person and 27% were concerned about payment security and privacy. Most e-buyers in the EU seemed satisfied with their online purchases, according to a recent report issued by Eurostat, 70% said they did not encounter any problem when ordering online. The most popular items bought over internet were clothes and sports goods (ordered by 60% of e-buyers), followed by travel and holiday accommodation (52%) and household goods and toys (41%).
- Retail US sales (ex-auto and gas) rose 4.6% in November, according to data from MasterCard.
- Black Friday sales were lower than a year ago, while sales for the full Thanksgiving week rose a modest 0.3%. The lower growth rate for the holiday period than the full month adds some support to the theory of some analysts that many typical Black Friday sales were pulled forward.
- MasterCard reports online sales rose 13% for the four-day weekend period just in front of Cyber Monday. For the month, e-commerce sales were up 16%.
The European Payments Council has released proposals for the design of a pan-European instant credit transfer scheme, with the aim of bringing real-time money transfers across the Sinlge Euro Payments Area (Sepa) by November 2017.
Non-bank digital entrants are among the main powerful disruptive forces that will begin to reshape the global payments landscape.
The industry has recently witnessed the entry of various non-bank digital players, including technology giants and start-ups that are presenting increased competition for banks. The nature of the competitors (companies such as Apple, Google, Facebook, Amazon, Microsoft, Tencent and Alibaba), the prominence of smartphones as a channel and rapidly evolving customer expectations are the main factors which are expected to enable technology titans and start-ups to raise the competition bar. In this context, in order to stay relevant, banks will need to respond to these changes with new strategies, capabilities and operating models.
Clothing and footwear were the most purchased items online in the UK in 2014, where 7 out of 10 consumers bought fashion items at least once via the internet (36 million people), a recent reseach study reveals.
Operators working in the online fashion channel in the UK are very dynamic and the landscape is rapidly changing, according to a research study issued by the consultancy company Icex. It is a booming market that offers many possibilities for fashion companies.
However, it is becoming increasingly competitive, as retailers have realised its great potential and are targeting online shopping. Men, a segment that historically bought less than women, are increasingly more likely to buy fashion items, and also more likely to buy online.
Multichannel stores are still consumers’ favourites, which may pose a threat to stores that sell purely online as they will have to increase their efforts to maintain their profits.
The Indian ecommerce market is forecasted to register a 36% increase by 202, boosted by huge discounts and the rising use of smartphones, a new research study reveals.
The expanding smartphone user base, huge discounts and offers, increasing per capita disposable income and the growing youth population, will be the drivers for the predicted compounded annual growth rate, according to a recent report issued by Canada-based TechSci Research, indiatoday.in reports.
Over 180 million journeys were made using contactless payments on London\’s transport network in the first year since the technology was fully launched.
Transport for London (TfL) has unveiled that the payment method – which involves using a contactless credit or debit card – accounts for a fifth (20%) of all pay-as-you-go journeys.
Nearly 6.7 million consumers in Belgium purchased products and services online worth of EUR 1.97 billion in Q2, 2015, a recent research study reveals.
Ecommerce now accounts for 14% of all spending in the local market, according to a recent report issued by BeCommerce, Belgian association for companies active in distance selling, ecommercenews.eu reports. If ecommerce in Belgium develops at the same pace by end of 2015, it will surpass the EUR 7 billion threshold.
Two in five US consumers (39%) use a mobile device to manage their bank account at least once per month and nearly half of mobile device owners (45%) do so, a recent report reveals.
According to a recent survey by the American Bankers Association, when asked “In the past month, how often have you used a mobile device to access and manage your bank accounts?”, consumers provided the following responses: 1-3 times – 16% (15% in 2014); more than 3 times – 23% (23% in 2014); never (own a mobile device but never use it for this purpose) – 42% (45% in 2014); don’t own a mobile device – 14% (15% in 2014); unsure – 5% (3% in 2014)
Consumers will be able to make contactless transactions for high value payments above the current limit at all contactless terminals across Europe by 2017, MasterCard has unveiled.
The move follows the payment network’s confirmation that all point-of-sale terminals across the continent will be able to accept contactless transactions by 2020. The contactless limit increased from GBP 20 (USD 30) to GBP 30 (USD 46) in the UK just recently.
MasterCard has revealed plans to start testing facial recognition technology for payment verification in the Netherlands and the US.
For the pilot in the Netherlands, the company has partnered International Card Services (ICS) B.V. and ABN AMRO and will allow 750 cardholders to pay online through fingerprint and facial recognition. Participants in the three-month trial can download the MasterCard app from the Apple Store or Google Play and register on the ICS website to get a code emailed to them for activating online payments. Then, during checkout in a web store, the consumer will receive a pop-up on their mobile phone, through which he can authorise the payment via finger scan or selfie recognition.
In Japan, mobile shopping may have taken off, but purchasing via mobile is still less popular, a recent report unveils.
Based on research conducted by Neo Marketing, digital payment users of all ages strongly preferred desktops over smartphones and tablets as a device for making digital payments, which includes not just mobile payments at the point of sale, but methods of paying for all sorts of digital purchases.
The ecommerce sector in the Middle East has significantly increased over the last decade and it was forecasted to reach USD 4.9 billion in 2015, according to data from May 2013.
As the second half of the year 2015 fast approaches, UAE-based online retail specialist Awok.com aims for 25% of the retail space.
The company has also predicted that the conversion of consumers shopping in-store to online store is something to watch out in near future. Furthermore, Awok.com’s C.E.O Ulugbek Yuldashev, has declared that mobile is the future. With everything available at our fingertips, one sees lots of retailers and businesses coming up with their personalized mobile apps and/or enhancing their mobile websites to provide optimum user experience.
68% of mobile payment users state that they are using the alternative payment methods more than in 2014, according to a recent research study.
In 2014, cash (93%), cheques (68%), cards (68%) remained the most used payments methods with select digital offerings close behind, according to the ‘How America Pays in 2015′ report issued by Blackhawk Network.prepaid and payments global company, paymentsexchange.ca reports.
Cash and cheques saw the greatest declines in use overall. 87% of consumers think merchant-specific gift cards are convenient to use, even higher than bank-connected debit cards (82%). Gift cards are now mainstream payment methods with almost half of consumers (48%) using them in 2014.