Online payment fraud losses to exceed $206 billion over the next five years; driven by identity fraud

Retail Technology Review

A new study from Juniper Research has found that merchant losses to online payment fraud will exceed $206 billion cumulatively for the period between 2021 and 2025. This figure, equivalent to almost 10 times Amazon’s net income in the 2020 financial year, demonstrates why merchants must make combatting fraud, through the use of machine learning-based fraud prevention platforms, an immediate priority.

A Self-Service Cannabis Kiosk That Offers Digital Payment Processing

Frank Mayer

teams with Alt36 on a market-ready self-service kiosk that offers a compliant digital payment solution for the cannabis sector. GRAFTON, WI – Alt36, a digital payments provider for the cannabis industry, has partnered with kiosk designer and manufacturer Frank Mayer and Associates, Inc.

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Why Payment Orchestration is the key to international merchant growth

A1 Retail

To do so effectively, however, retailers need to optimise their payments ecosystems now to put in place the right framework for expansion in the future. Payments; the next frontier of user experience. What is Payment Orchestration? Planning for the future of payments.

Merchants adapt check-out process to thwart cart abandonment

Retail Dive

Merchants are giving online customers a broader menu of payment options in the hopes of keeping customers through to completion of a purchase

Shopify Says Its Merchants Have Created Nearly 5 Million Jobs

Small Biz Trends

Canadian-based global eCommerce company Shopify says its merchants contributed 5 million jobs and $444 billion in global economic activity in 2021. Shopify merchants sold $25 billion worth of goods and services outside of their home countries.

Akeneo’s PIM solution gives builders merchant, Bradfords, the tools for commerce success

Retail Focus

Builders’ merchant, Bradfords Building Supplies , has transformed the way it merchandises its products online using a solution from Akeneo, the global leader in product experience management (PXM) and product information management (PIM).

Axerve white paper explores digital payments trends & the importance of multi-channel and hyper-personalised payments services

365 Retail

Axerve, Payment Partner to Grow, specialising in creating accessible and frictionless payment solutions for Ecommerce and physical sales, today announces the release of a new white paper, ‘ New technologies and trends in digital payments in 2022 ’.

PayPal to increase merchant fees in August

Retail Dive

transaction fees despite a crowd of competitors angling to lure merchants and consumers to alternative payment services The company is raising some U.S.

Metro Payment Technologies Collaborates With Star Micronics to Offer Merchant Solutions for Businesses

Star Miconics

Complemented with Star’s TSP654II and Value Series cash drawer, Metro Payment offers merchants a full range of products, services, and expertise to help streamline payment operations. Metro is your one-stop solution for all your payment processing and technology needs.

Merchants say they're losing revenue to online fraud, FIS finds

Retail Dive

Six in ten merchants globally reported higher rates of e-commerce fraud in 2020 and struggle to cope with rising payments fraud, an FIS report indicates

Top 5 Merchant Services Podcasts You Must Follow in 2021

Star Miconics

Top 5 Merchant Services Podcasts Contents [show] ?About About this list & ranking Merchant Services Podcasts Merchant Sales Podcast 5 with Danny Host Merchant Services Submit Blog Do you want more traffic, leads, and sales?

Merchants call on Fed to cut debit card swipe fees

Mass Relators

WASHINGTON – The Merchants Payments Coalition on Tuesday called for the Federal Reserve to revise debit card swipe fee rules to reflect lower bank costs. Banks’ costs have constantly fallen but merchants are still paying as much as they were a decade ago.

Cryptocurrencies are the Future of Payments: Here is How Merchants Fit In

Retail Touch

With banks and credit card companies warming up to the idea of Bitcoin trading and crypto rewards on card transactions, are they really extending the benefits of crypto to merchants, or is this just a play to get consumers to buy into a shiny new card that looks different but acts very much the same?

Ingenico and Inspire Payments partner to ignite payments for UK SMEs

365 Retail

Ingenico a Worldline brand, and Inspire Payments today announce a new partnership, equipping the Verastar Group’s company with Ingenico’s market leading ‘Move’ and ‘Desk’ payment terminals. Insight News Payments Ingenico Inspire Payments

Merchant knowledge gaps on ecommerce costs need addressing

A1 Retail

By David Jeffrey, Director of Product, Barclaycard Payments. The latest data from Barclaycard Payments shows that 50 percent of our transactions now come through ecommerce, up from 40 percent pre-pandemic. The remarkable rise of digital wallets and payment services.

Top 10 Technology Investments Online Merchants In US Are Banking On For 2022

Retail Minded

A new study revealed: Social media marketing (32%), e-commerce software (31%), email marketing (29%), retail operations (26%) and online payments (24%) score highly. Customer service (28%). Online payments (24%).

Consumers and Merchants Should Look Before They Leap into BNPL Services

Retail Touch

The economic fallout from the COVID-19 pandemic accelerated demand for buy now, pay later (BNPL) payment options. Research by The Ascent showed that among people who have used a BNPL service, 45% first did so in 2019, 21% first did so in 2020, and only 7% had used a BNPL service prior to 2015.

Vyne and Gr4vy partner to enable instant Open Banking payments for online merchants

Retail Times

Vyne, the specialist account-to-account payments platform, today announces a new partnership with Gr4vy, a leading cloud-native payment orchestration platform (POP), that will give online merchants access to open banking payments infrastructure.

Cross-border merchants can add Latin America to their operations as emerchantpay extends local payment capabilities in the region

Retail Times

emerchantpay, a leading global payment service provider, now provides local payments acceptance for cross-border merchants and partners in eight Latin America countries. The addition enables cross-border merchants and partners to accept popular local payment methods and domestic and international card schemes in the region.

Coles doubles down on payments with launch of Flypay for grocery

Inside Retail

A year on from the introduction of payment platform Flypay to Coles Liquor websites, including Liquorland, Vintage Cellars and First Choice Liquor, the digital wallet has now been expanded to grocery shoppers through Coles Online. Coles isn’t the only retailer investing in payments technology.

Contactless transactions surged in 2021 as shoppers and merchants benefitted from £100 limit increase

A1 Retail

The value of payments made contactlessly increased 40.2 Thursday 23 December was the busiest day for contactless payments with the value of eligible transactions 121.4 per cent of all eligible card transactions in 2021 were made contactlessly, with the total value of contactless payments made increasing by 40.2 Other significant increases in the value of payments made include at sports and outdoor retailers (up 64.7

Shopify merchants can now build and launch 3D and AR visualisations of their products directly on the website

365 Retail

This will allow merchants to enjoy an end-to-end solution, from 3D modelling to AR visualisation, directly on the Shopify site. The new app is expected to make the process faster, simpler and less expensive. App Payments Technology Augmented Reality Poplar Studio Shopify

Zalora to optimise global payments with BridgerPay

Inside Retail

Southeast Asia’s leading online fashion and lifestyle retailer offers customers a world of payment options and a seamless shopping experience. Together, we will fulfil our mutual goal of making online payments a frictionless and seamless experience for customers through our easy integration.

Three Reasons Ecommerce Merchants Should Monitor the Battle Between Amazon and Shopify

Retail Minded

The behind the scenes battle going on between the two biggest ecommerce platforms in the US – Amazon and Shopify – could have significant implications for merchants. Amazon’s real customer is the end consumer – rather than the merchants that make up its Marketplace business.

Global Payments Provider Secures $30 Million in New Funding

Retail Touch

Reach , a combined payments, tax and fraud platform designed to improve handling of cross-border commerce transactions, has received $30 million in its latest funding round. The Reach solution powers transactions in 120 local currencies and local processing in more than 40 markets.

The Merchant’s Prep Guide to 2020 Holiday Delivery Fraud

Retail Touch

As online activity has increased during the pandemic, online fraud has too, and fraudsters are poised to wipe out a big chunk of merchant profits by posing as legitimate customers. For merchants with both online and brick-and-mortar stores, “buy online, pick up in-store” (BOPIS) enables customers to order products online and pick them up from a physical location. Merchants love it because it bolsters sales, avoids shipping and helps move inventory out of stores.

Google Merchant Center Account Suspended? Here Is How to Fix It

Store Growers

Having your Google Merchant Center account suspended can be a death sentence for your business. Because if you can’t use Merchant Center, it also means you won’t be able to use Google Shopping. Why Your Google Merchant Center Account Got Suspended. Last Updated on April 1, 2022.

Eftpos to launch QR-code payments: What does it mean for retailers?

Inside Retail

The eQR payments platform is being rolled out in partnership with Commonwealth Bank and NAB, as well as with fintechs Azupay , Beem It and Merchant Warrior. What do QR-code payments mean for SMEs? When it comes to payments services, the hardest part is the implementation.

Clearpay welcomes Sweaty Betty, Hawes & Curtis, and Feelunique as merchant partners

Retail Times

Clearpay, a leader in “Buy Now, Pay Later” (BNPL) payments, known as Afterpay (ASX: APT) outside the UK and Europe, has announced new partnerships with top fashion and beauty brands - offering consumers more places to shop for the latest trends whilst spending responsibly and always interest-free.

Woolworths launching stand-alone payments platform, Wpay

Inside Retail

Woolworths is launching its own stand-alone payments platform, Wpay, which will power payments inside and outside its group of businesses, and further extends the group into the retail ecosystem in Australia.

Barclaycard: contactless transactions surged in 2021 as shoppers and merchants benefitted from £100 limit increase

Retail Times

of all eligible card transactions in 2021 were made contactlessly, with the total value of contactless payments made increasing by 40.2%, year-on-year. New data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, reveals that 91.1%

Mobile wallets are becoming a dominant payment method with over 4.4 billion users predicted by 2025

Retail Times

Data Time Reports Merchant MachineThere is no doubt that our shopping habits over the past few years have been defined by the Covid-19 pandemic. In order to comply with safety measures, many of us opted for cashless transactions often enabled by mobile wallets.

3 Post-COVID Benefits of Contactless Payments for Retailers (and 3 for Customers)

Retail Touch

Contactless payments skyrocketed in popularity during the COVID-19 pandemic while cash payments plummeted. However, the trend toward touchless payments doesn’t end with easing of transmission fears and the lifting of restrictions. Greater payment flexibility.

Inmar Intelligence Launches Integrated Omnichannel Payment Platform

Retail Touch

Inmar Intelligence , a data-driven technology-enabled services company, has launched InmarPay, a unified omnichannel payment platform. InmarPay aims to drive profitability by connecting consumer engagement and payments for retailers, pharmacies and CPG manufacturers.

Payments in 2021: What Lies Ahead After the Digital Boom

Retail Touch

It has been a year of momentous change for the payments industry. Years of transformation transpired in just a few months with rapid shifts in both consumer behaviors and merchant expectations for e-commerce. Installment Payments are Changing Mindsets on Credit.

The ROI of chargeback guarantee fraud prevention

Inside Retail

It’s based on machine learning technology and offers merchants complete liability and cost shift on all fraud-related chargebacks. With chargeback guarantee, merchants cut their fraud costs, lift approval rates, and take on challenges risk-free.

Payment Providers Partner to Offer Buy Now, Pay Later Service

Retail Touch

Afterpay and Adyen are working together to offer Afterpay’s buy now, pay later (BNPL) services to retailers. Merchants on Adyen can offer Afterpay in the UK, the U.S., The service is completely free for customers who pay on time. “We

Beyond the Transaction: How PayPal is Helping Remove Friction Across the Commerce Experience

Retail Touch

Since spinning off from eBay and going public for a second time in 2015, PayPal has expanded its reach well beyond that one digital marketplace to more than 30 million merchants worldwide. PayPal has come a long way from the days when it was known primarily as the way to pay on eBay.

Stronger payment checks launch to help protect online shoppers from fraud

365 Retail

Online shoppers may find they need to confirm their identity more often when making payments from Monday, as changes to combat fraud come into force. The BRC said retailers have been preparing their systems for many months to process the extra security checks.

Feel at home with Your Payments!

Secure Retail

The chances are that you’ll use Secure Retail’s products and services at least once today. We’re behind some of the world’s biggest brands, providing the hardware, software and infrastructure to ensure your payments are fast, reliable and above all, secure.

NatWest Group first UK bank to sign agreements with payment providers to offer new payment option through VRP

365 Retail

NatWest Group has signed agreements with three payment providers – TrueLayer, GoCardless and Crezco – to offer Variable Recurring Payments (VRP) as a new and convenient payment option for businesses and consumers. ecommerce Financial News Payments Subscriptions Natwest

BigCommerce expands support for Adyen to improve merchant checkout experience globally

Retail Technology Review

BigCommerce, the open SaaS ecommerce platform for fast-growing and established brands, has rolled out a new integration with global payments platform Adyen, giving more than 60,000 merchants on BigCommerce access to an all-in-one payments solution.

The NRS POS + NRS Pay Credit Card Processing for CBD Retailers

Independent Retailer

We recognize that there is a big challenge to selling CBD products, because a significant number of credit card processing companies refuse to process for CBD retailers, making many CBD sales a less-than-desirable, cash-only purchase.