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Apple Pay early adoption stats

ITG Research has released  figures which show that iPhone users, via Apple Pay, were responsible for 1% of digital payment dollars spent in the month of November. The ITG Mobile Payments report, which uses data from the firm’s proprietary consumer panel, found that Apple Pay customers used the service roughly 1.4 times per week, with a return rate of 66% for future transactions… Continue reading >>

MBNA launch digital wallet with MasterPass

MBNA has, in partnership with MasterCard, launched a trial of a digital wallet. Once the trial is complete in early 2015, the MBNA Wallet could be quickly rolled out to customers. This will enable customers to securely store their credit and debit cards in their ‘e-wallet’ and, at the checkout for their online shopping, select which card to use to… Continue reading >>

Cyber crime to drastically increase this Christmas

Christmas 2014 looks set to have a large increase in cyber crime with the UK shopper set to spend a record £374.3 million over the festive period with one in four pounds expected to be spent online. It is estimated that online sales will grow by 19.55% to £17.4 billion compared to £14.5 billion in 2013. “Overall Cyber Crime looks… Continue reading >>

Mobile commerce booming in China

Online shopping via mobile phones has become the main way Chinese people spend their money, with a large number of those living in rural areas jumping on the mobile commerce bandwagon, according to a report by Alipay. The Alipay Annual Spending Report is a report the e-payment firm releases each year that documents the spending trends of the Chinese consumer. According to… Continue reading >>

The 10 biggest issues in e-payments

As we head toward the close, 2014 seemed to be the year of the dinosaur— as in the outmoded creature whose days were ended in the flash of a mighty asteroid strike. Over and over again, the entities that clung to plastic cards with mag stripes, to slow-mo settlement processes, to old-fashioned price-based acquiring, seemed to be the ones caught flat-footed by… Continue reading >>

Sixdots goes live with multiple banks in Belgium

9 banks representing 80% of the Belgian market can now make use of Sixdots, a mobile wallet service that uses a combination of QR codes and a 6-digit PIN to make P2P payments, in stores and online.   The service is available for both iOS and Android and has been introduced by BNP Paribas Fortis, KBC, ING, Belfius, Fintro, Record Bank, Bpost bank,… Continue reading >>

1 in 10 iPhone owners use Apple Pay

A new report from InfoScout suggests Apple Pay is yet to gain widespread adoption among iPhone 6 owners due to poor consumer awareness of which stores accept the NFC payments technology and a lack of understanding of how the service works. According to a recent survey conducted by InfoScout, consumers who have used Apple Pay, however, compare it highly favourably… Continue reading >>

$300 million in bitcoin spent during Cyber weekend frenzy

A total of $296 million was spent globally across the bitcoin network on Cyber weekend, according to insight provided by Bitnet. Bitcoin registered as the 9th biggest payment network worldwide over the biggest e- commerce weekend of the year, finishing only behind the likes of Visa, MasterCard, American Express and PayPal. Black Friday proved more popular of the two days,… Continue reading >>

E-commerce spend to hit £17.4 billion at Christmas

E-commerce Christmas spend in the UK is set to hit a record £74.3 billion, with almost one in four pounds expected to be spent online, according to research commissioned by digital offer marketplace RetailMeNot – operator of VoucherCodes.co.uk. The study, conducted by the Centre for Retail Research, forecasts that online sales at Christmas will grow by 19.5% to £17.4 billion this year, compared to… Continue reading >>

Online merchants struggling to cope with the ‘fragmentation of fraud’

More than three-quarters of online merchants (79%) believe the growing proliferation of markets, purchasing channels and payment methods pose a significant challenge for effectively dealing with fraud, according to the Fragmentation of Fraud report. Only one in five (20%) online merchants stated they are very confident about their ability to manage new fraud threats and half (50%) find it difficult… Continue reading >>