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« March 17, 2013 - March 23, 2013 | Main | March 31, 2013 - April 6, 2013 »

March 29, 2013

PayPal Highlights from eBay Analyst Day 2013

PayPal logo 140x60pxeBay recently held an analyst day briefing to provide guidance on its various lines of business. The company announced that across its core Marketplaces, PayPal, and GSI Commerce businesses, it expects to enable $300 billion in global commerce in 2015. PayPal specific highlights include:
  • 25% of PayPal users were active on mobile in 2012, 10% of TPV came from mobile in 2012, 1M new users signed up through mobile in Q1 2013.
  • $145 billion total purchase volume in 2012 is expected to double to $290 billion in 2015.
  • Revenue anticipated to be somewhere between $9.5 billion to $10.5 billion by 2015, representing a 22% compound annual growth rate at the midpoint.

Analyst day webcast replay is available here; presentation slides are downloadable from here. PayPal section starts on slide 232.

March 27, 2013

Payment Systems to be Regulated in UK

Hm treasury logo 140x60pxThe Financial Times is reporting that payment systems in the UK are going to be regulated "much like a utility".
Tuesday’s announcement of a consultation on the issue makes clear that the government wants to put the system for retail payments – including bank transfers, cheque clearing and credit card payments – under formal regulation by an existing authority.

The full consultation report, "Opening Up UK Payments", is available for download here.

Federal Reserve Releases Survey On Mobile Financial Services

FedThe use of mobile phones to access a bank account, credit card, or other financial account became more prevalent in the Unites States last year, according to the Federal Reserve Board's latest report entitled, "Consumers and Mobile Financial Services 2013".
Mobile devices have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. The Board's report looks at how consumers access their bank's services using mobile phones ("mobile banking"), at their payment for goods and services using mobile phones ("mobile payments"), as well as their use of mobile phones to inform their shopping decisions.

The full report can be downloaded here.

March 26, 2013

ID Analytics introduces Fraud Detection Solutions for Online Retailers

Id analytics 140pxID Analytics has introduced a suite of fraud detection solutions designed specifically for eCommerce retailers.
“Fraudsters are becoming increasingly sophisticated, and eCommerce retailers still encounter too many false positives when screening for potential fraud. ID Analytics partners with merchants to help them fight fraud while ensuring that no additional friction is introduced into the online customer experience,” said Aaron Kline, director of eCommerce, ID Analytics. “This new suite of products leverages our unique data platform and is specifically designed to help eCommerce merchants maximize conversion by accurately separating true fraud from false positives and detecting when an online account is compromised.”

ID Analytics' eCommerce suite helps retailers improve their fraud detection through access to the ID Network, "one of the nation's largest networks of real-time, cross-industry consumer behavioral data."

AmEx and Walmart Announce the Addition of FDIC Insurance to Bluebird

Amex logo 140pxAmerican Express and Walmart have announced expanded security and funding capabilities to Bluebird, a debit and checking alternative that provides Americans with a better way to manage and control their everyday spending.
Bluebird Accounts(1) will now be eligible for FDIC insurance, providing an extra layer of security. As a result, permanent Bluebird Accounts will now have the ability to receive direct deposit of government payments, such as social security payments, military pay, and tax refunds. Customers can also balance their Bluebird checkbook in real-time with pre-authorized check writing, add checks to their Bluebird Account by mail and add funds up to $100,000 annually.

(1) Available to a Bluebird member who registers with American Express for a permanent account. These new features are not available with the temporary Bluebird card sold at Walmart retail locations.

CyberSource 2013 Online Fraud Report

Cybersource logo 140x60px CyberSource has announced results of its 14th annual survey of eCommerce fraud based on an independent survey of hundreds of online merchants.
In 2012, companies reported losing an average of 0.9% of total online revenue to fraud, similar to 2010 levels. Using 2012 industry market projections on eCommerce sales in North America, we estimate that total revenue loss translates to approximately $3.5 billion. Because the size of the overall market has grown, the revenue loss equates to $100,000,000 more versus 2011.

A full copy of the report can be requested here.

March 25, 2013

NOOK Announces In-App Purchasing Partnership With Fortumo

Fortumo logo 140px NOOK Media, the eBook subsidiary of Barnes & Noble, has announced in-app purchasing is coming soon to NOOK through a partnership with mobile payment provider Fortumo.
For customers, in-app purchasing offers greater access to the most popular games and free apps on NOOK, and gives them the flexibility to buy extra levels, coins and other upgrades to make the app experience even better. And with the integration of Fortumo’s one-click checkout, once a customer has registered for in-app purchasing there’s no need to enter long credit card numbers before each payment. They simply click “Pay” and the purchase is completed in seconds.

Leaf Unveils World’s First App Store Specifically for Small Business

Leaf logo 140x60px Leaf, creators of new tablet specifically designed for commerce, has announced the Leaf Appstore, an app store dedicated to serving the needs of brick and mortar businesses.
Building on the foundation of its built-for-business point of sale (POS) tablet, the LeafPresenter, and its online analytics and management portal, LeafBusiness, the Leaf Appstore completes the company’s vision by enabling third parties to supplement and extend the core features in its technology platform for small business.

The key feature of the Leaf platform and Leaf Appstore is the ability to capture common functionality between different industry verticals such as retail, quick serve and restaurants, while ensuring the specific needs of each business type is accounted for.

41st Parameter Launches TrustInsight Network

41stParameter logo 140px 41st Parameter has announced the TrustInsight Network – a new crowd-sourced service that aims to improve card-not-present transaction approval rates.
With TrustInsight, every online consumer transaction will carry a TrustScore generated from encrypted data contributed by TrustInsight Network participants. This crowd-sourced TrustScore functions as the standard for eCommerce CNP trust. TrustInsight makes it easier for merchants to confidently process the more than 70% of online orders that come from first time customers. These people are unknown to the merchant but that doesn’t mean they can’t be trusted. That is the problem TrustInsight solves.

Heartland Payment Systems and LevelUp Form Nationwide Partnership

HeartlandPayments logo 140pxHeartland Payment Systems and LevelUp announced they are partnering nationwide on the first national roll out of a mobile payment solution.
“The biggest challenge facing mobile payment companies right now is scale,” said Chris Mahl, LevelUp’s chief revenue and strategy officer. “LevelUp has been able to reach 1 million users and 5,000 merchants relatively quickly, but we need even wider consumer and merchant adoption before LevelUp hits the mainstream. Our partnership with Heartland Payment Systems will allow us to fire up our growth rate as we begin a phased roll-out with Heartland’s impactful sales force selling LevelUp and our white-label solutions to businesses and consumers across the country.”

Heartland will distribute LevelUp's mobile payment and loyalty platform to merchants; LevelUp will use Heartland for processing.

Flint and NXGEN Partner to Market Mobile POS Acceptance to SMB Channels

Flint logo 140x60pxFlint Mobile has announced a partnership with Fidano, a subsidiary of NXGEN International, one of the largest merchant service providers.
“Fidano is committed to helping our merchant partners succeed, and we’ve heard resounding demand for a simple mobile payments offering,” said Thomas Nitopi, CEO of Fidano. “Flint’s platform not only enables Fidano partners to get started easily, it also offers a unique combination of ease-of-use and powerful customer engagement features.”
Fidano will be rolling out the program and activating channel partners in 2Q 2013.

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