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.

What you can do to tackle rising merchant fraud

Inside Retail

One crucial area is merchant fraud, and any business taking card payments is vulnerable. For its part, CommBank’s advanced banking security features ensure merchant accounts remain secure. For more tips, check out our merchant security hub [ here ].

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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.

What is a Merchant Cash Advance Loan?

Small Biz Trends

Believe it or not, merchant cash advance (MCA) business loans are a great option for small business owners looking for fast and easy access to capital. What is a Merchant Cash Advance Loan? Are Merchant Cash Advances Right for Your Business? Best Merchant Cash Advance Companies.

Shopify Debuts Creator Marketplace to Connect Influencers with Merchants

Retail TouchPoints

Shopify has launched a new platform called Shopify Collabs that makes it easier for creators to find and partner with Shopify merchants looking for marketing support. Shopify Collabs is now available to all merchants in the U.S.

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

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.

Can Printed Receipts Help Brick-and-Mortar Merchants Avoid Chargebacks?

Star Miconics

This was good for both merchants and consumers, but it ultimately led to a surge in chargebacks and friendly fraud. Merchants have the right to contest invalid chargebacks, but proving a claim is bogus requires evidence. How Receipts Work in the Merchant’s Favor.

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.

Australian B2B marketplace Ollee connects merchants with ethical brands

Inside Retail

As retailers look to source more ethical, natural, and eco-friendly products, Ollee has launched Australia’s first local and ethical B2B marketplace to help merchants connect with purpose-driven brands.

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).

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

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.

Three Types of Promotions Merchants Can Use To Attract Subscribers 

Retail TouchPoints

Data backs this up as well: A study from the global professional services firm Alvarez & Marsal found that 44% of consumers tried a new beauty brand because of promotions and/or discounts last year, up from 25% in 2020.

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.

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?

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 ’.

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 TouchPoints

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?

Calming the Storm: How Merchants can Take Advantage of the Volatility of Life by Embracing Multi-Dimensional Commerce

Retail TouchPoints

As the retail industry starts to return to normal in 2022, merchants around the world continue to respond to changing consumer behavior by embracing adaptability with open arms, in addition to being increasingly open to new technologies as part of their long-term strategies.

Calming the Storm: How Merchants can Take Advantage of the Volatility of Life by Embracing Multi-Dimensional Commerce

Retail TouchPoints

As the retail industry starts to return to normal in 2022, merchants around the world continue to respond to changing consumer behavior by embracing adaptability with open arms, in addition to being increasingly open to new technologies as part of their long-term strategies.

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.

Consumers and Merchants Should Look Before They Leap into BNPL Services

Retail TouchPoints

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.

Hybrid Cloud Operations in the New Era of Digital Payment Applications

Cisco CSR

This is the third blog in a series on financial services where I investigate a few challenges of managing hybrid cloud operations in the payment application development arena. The evolution of electronic payment technology. What’s new in Financial Services at Cisco.

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%).

The Quick Guide To Google Merchant Center Programs

Store Growers

Advertisers use Google Merchant Center to connect their product feed to Google Ads. But Google Merchant Center offers a ton of other features on top of that. These extra features are called Google Merchant Center programs. What are Google Merchant Center Programs?

How to Set Up Shipping in Google Merchant Center

Store Growers

When you’re configuring your Google Merchant Center account, one of the essential parts to get right is the shipping settings. Why You Need to Set Up Shipping in Google Merchant Center. How Shipping Settings Work in Google Merchant Center. Last Updated on July 6, 2022.

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.

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

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.

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.

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

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.

Proud local creates shop window for Barossa producers

Inside Retail

Cox is the founder of Makers & Merchants Barossa, a collective store showcasing the work of local creatives and producers. And I decided we could do the same for local makers and merchants.”. Food & beverage Sectors Makers & Merchants Barossa Shelley Cox

Proud local creates shop window for Barossa producers

Inside Retail

Cox is the founder of Makers & Merchants Barossa, a collective store showcasing the work of local creatives and producers. And I decided we could do the same for local makers and merchants.”. Food & beverage Sectors Top Stories Makers & Merchants Barossa Shelley Cox

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

The Merchant’s Prep Guide to 2020 Holiday Delivery Fraud

Retail TouchPoints

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.

Global Payments Provider Secures $30 Million in New Funding

Retail TouchPoints

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.

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.

Guide shows SMEs how to reduce their carbon footprint and environmental impact

Retail Times

Retail Merchant Services has produced a new guide showcasing how SMEs can reduce their carbon footprint and environmental impact- [link]. Retail News Sustainability Time carbon footprint Retail Merchant Services

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.

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.