Based on new regression analysis, based on non-parametric statistics, e-commerce is expected to top $3.6 trillion by 2020. Forecaster RAM Research now predicts global e-commerce will grow at a compound annual growth rate (CAGR) of 20.57%.
The recent introduction of Samsung Pay and Android Pay as well as India and soon to be announced Brazil mobile payments is having a profound impact on mobile payments forecasts. CardData now expects global m-commerce will soar from $390 billion this year to $1071 billion in 2020.
Pakistan will become the first foreign market to launch the UnionPay mPOS (Mobile POS) service.
Visa and Verifone announced a partnership that will enable merchants to offer their customers a more streamlined, secure purchase experience across digital and face-to-face commerce environments, often referred to as omni-channel commerce.
Starting this fall, MasterPass from MasterCard will provide a simple and secure online shopping experience for the Wayfair family of brands as well as within the mobile apps for Wayfair.com, AllModern, and Joss & Main.
The worldwide wearable device market recorded its eighth consecutive quarter of steady growth in the first quarter of 2015 (1Q15). According to the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker, vendors shipped a total of 11.4 million wearables in 1Q15, a 200.0% increase from the 3.8 million wearables shipped in 1Q14.
American Express is juicing up its Starwood Preferred Guest (SPG) Credit Card in August. With the enhanced product benefits, the new annual fee will increase from $65 to $95 effective August 11, 2015. The first year of Card Membership is free and $95 annually thereafter.
BlueSnap has enhanced its suite of fraud prevention services by partnering with Kount, a provider of fraud detection and sales boosting technology.
Nearly 70% of money sent through Western Union in the United States is picked up by receivers on the same day, with nearly one-third picking it up within one hour. Globally, nearly 70% of payouts made by Western Union are picked up by receivers in major remittance receiving countries within 24 hours as well.
In today’s CardFlash News Que: PINTEREST (Shopify); VISA (FireEye); MERCATOR (EMV); and PROPAY (LenderPay).
In today’s CardFlash News Que: IMG (office); Easy Solutions (Fundtech); CAPRA (Collupy); and INTUIT (EMV).
Virtual Piggy, provider of the payment technology Oink, announced the release of its new and improved app, which will include peer-to-peer functionality allowing teens to receive deposits to their accounts for work or gifts from family and friends.