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Compass Plus powers Klarna’s global expansion

Compass Plus has announced that it has successfully completed the implementation of its open development payments platform TranzAxis with Klarna, a leading European online payment provider. Klarna makes online payments easier and safer, enabling consumers to purchase goods using just their email address and postcode, cutting out the need for passwords. The TranzAxis platform, which was implemented in just six… Continue reading >>

Alibaba make new financial services push

Chinese e-commerce firm Alibaba Group said on Thursday it has folded six different businesses into a single business unit and changed the name of its Alipay financial services affiliate to Ant Financial Services Group as it steps up its push into the financial services industry. Alibaba has been aggressively offering new financial services around Alipay, including a money market fund for consumers,… Continue reading >>

W3C launches web payments initiative and reduce fraud

The World Wide Web Consortium (W3C) says it will begin a new initiative to integrate payments seamlessly into the Open Web Platform and help tackle fraud. W3C calls upon all industry stakeholders - banks, credit card companies, governments, mobile network operators, payment solution providers, technology companies, retailers and content creators - to join the new Web Payments Interest Group and leverage the unique ability of the Web… Continue reading >>

Japanese social media network Line moves into payments

Japanese social media messaging network Line has entered the payments market with a service for both online and in-store transactions. Line, which has 560 million registered users worldwide, will enable Japanese customers to link the Line mobile app to their bank accounts and credit cards. Users will then be able top up their Line account and make purchases online and… Continue reading >>

Payments matter as e-commerce sites lose revenue through lack of choice

E-commerce merchants based outside of the UK could be losing out on vital global sales from Generation Y by failing to convert browsers into buyers at the checkout. New research[1] into the online buying habits of 1,000 UK adults commissioned by The PPRO Group found that, of those who have tried to buy goods from overseas retailers, a massive 64%… Continue reading >>

MasterCard to mine Facebook user data in Asia-Pacific

MasterCard has signed a two-year deal to mine Facebook Asia-Pacific user data, detailing consumers’ online habits to uncover behavioural insights it can then sell to banks. MasterCard aims to feed the data along with information from other sources into an analytics platform dubbed the Priceless Engine, and work with Australian banks, starting in early 2015, to serve up tailored online offers… Continue reading >>

PayPal partners with Bitcoin payment processors

PayPal says it will partner with three major Bitcoin payment processors in this space – BitPay, Coinbase and GoCoin. Although PayPal has stopped short of integrating bitcoin into its digital wallet or payment processing services directly, the move marks PayPal’s first formal offering to the bitcoin community. In a blog post by senior director of corporate strategy Scott Ellison, PayPal revealed that online… Continue reading >>

Mobile commerce worth $516 billion by 2017

Mobile commerce will drive an estimated $516 billion in sales over the next three years, accounting for more than 70% of all mobile Internet revenue. That is the prediction of a new report from research firm Digi-Capital, which says that all mobile Internet revenue will top $700 billion annually by 2017. The absolute top driver in this picture is mobile commerce. But other… Continue reading >>

Citi claims first blood for US digital wallet launch

Citigroup has claimed to be the first global bank to introduce its own branded digital wallet in the US. However, questions are being asked as to how many of Citi’s millions of payment card holders will care as digital wallet services proliferate. The new Citi Wallet is based on MasterCard’s MasterPass platform, which the network introduced in February 2013. At… Continue reading >>

Millicom create payments service provider for Africa and Latin America

Millicom and Kalixa have established a joint venture to develop a payments service provider to operate in Africa and Latin America, initially commencing in Colombia and Brazil later this year. The joint venture will offer payment acceptance services for both businesses and consumers, including payment gateway and point of sale solutions for merchants as well as 1-click payment and eWallet… Continue reading >>