U.S. Bank will be the first in Europe to offer Visa Payables Automation. The bank will initially target its U.S.-based multinational clients with significant operations in Europe.
Digital River Commerce-as-a-Service solutions signed a global payments agreement with Morinda, Inc., a direct-selling company that markets nutritional, health and wellness products. Morinda is using the Digital River World Payments solution to build a localized European payments program that supports online sales of its lifestyle products across Russia, Hungary, Latvia, Lithuania, Poland, Romania and the Czech Republic. The Digital River solution will offer Morinda customers online credit card payments in seven different local currencies. Through Digital River World Payments, Digital River offers online merchants more than 180 international and local payment options, and over 170 transaction and display currencies. In 2013, the company processed more than $30 billion in online transactions.
Digital River Commerce-as-a-Service solutions signed a global payments agreement with Morinda direct-selling. Morinda is using the Digital River World Payments solution to build a payments program that supports online sales of its lifestyle products across Russia, Hungary, Latvia, Lithuania, Poland, Romania and the Czech Republic. The Digital River solution will offer Morinda customers online credit card payments in seven different local currencies, including Russian ruble, Hungarian forint, Latvian lats, Lithuanian litas, Polish złoty, Romanian leu and Czech koruna. Through Digital River World Payments, Digital River offers online merchants more than 180 international and local payment options, and over 170 transaction and display currencies. In 2013, the company processed more than $30 billion in online transactions.
Customers will now be able to open a time deposit, find the nearest Citibank branch or ATM through a GPS navigation system and access other banking services with the launch of the new Citibank Mobile Banking application. This is because the new Citibank Mobile Banking application can be downloaded for free from the Apple Store for iPhone, Android Market for Android users, and www.citibank.hu/mobilbank for Nokia smartphones. Citibank Mobile allows customers to view their account information; open time deposits; transfer funds; view FX and currency exchange rates; and show the nearest Citibank Branch or ATM on smartphones with a GPS navigation system.
PayPal has added five new currencies and now supports payments in 24
currencies. The total number of supported currencies now include the
U.S. Dollar, Australian Dollar, Canadian Dollar, Hong Kong Dollar,
Singapore Dollar, Taiwan New Dollar, New Zealand Dollar, Euro, Swiss
Franc, Czech Koruna, Swedish Krona, Danish Krone, Norwegian Krone,
Hungarian Forint, Mexican Peso, Philippine Peso, Malaysian Ringgit,
Chinese RMB, Israeli New Shekel, Pounds Sterling, Brazilian Real, Polish
Zloty, Thai Baht and Japanese Yen. The company also launched its “PayPal
X” global payments platform for third-party developers, ushering in a
new generation of innovative payments, for which the first Application
Programming Interface (API) will be Adaptive Payments with a new
currency conversion API to automatically convert currencies using live
PayPal has opened its global payments platform and unveiled new application programming interfaces, a new developer portal and introductory services pricing for developers to generate revenue. So far
AERS, Carlson, FIS, FundRazr, MedPayOnline, Payvment, Playspan, ShopSavvy, Storenvy, Super Rewards, Sun Microsystems, S1 and Zuora all have announced a new generation of applications built with the “PayPal X” global payments platform. PayPal introduced a beta of its “Adaptive Accounts API” to provide a streamlined signup experience for people who donât have PayPal accounts, while maintaining security and privacy of consumer data. Starting in mid 2010, PayPal will offer pricing for developers building applications in markets that are traditionally served by cash and checks. The introductory pricing will be a flat fee of 50 cents for service transactions funded by a bank account or PayPal account balance, with a three-day settlement period; or a 0.75% fee for service transactions funded by a bank account or PayPal account balance, with instant settlement. The pricing package for developers includes PayPalâs tiered e-commerce pricing of 1.9% – 2.9% plus 30 cents; and PayPalâs micropayments pricing of 5% plus 5 cents. PayPal also announced that it has added five new currencies and now supports payments in 24 currencies.
Citibank, under contracted partnership with AIG Europe Hungarian Branch
Office, is allowing credit card customers to now apply for its
Individual and Family “Cancer Insurance Plans.” “Cancer Insurance Plans”
offers substantial coverage through a single payment, monthly income
payment of up to 12 months and a single surgery payment with fees
ranging from HUF800-16,700, depending on the customer’s age, selected
option and plan. The Family Plan grants spouse and children living in
the same household coverage benefits while upgrades available, depending
on payment options, provide income payments of 50 thousand or 100
thousand forints per month. The surgery payment can be 200 thousand or
400 thousand forint. All Citibank credit card holders aged 18 to 55 are
eligible to apply.
CardFlash International reports that Citibank has teamed up with AIG to offer a cancer insurance benefit to its credit cardholders in Hungary. A basic and an upgraded option are available, and depending on the selected option the single payment can be approximately US$5,000 or US$10,000, the income substitute payment can be about US$265 or US$525
per month during 12 months, while the surgery payment can be US$1000 or US$2000 in case of diagnosed cancer. In case of the diagnosis of another type of malignant tumor, the single payment is US$1000 or US$2000. All Citibank credit card holder customers aged 18 to 55 are eligible to apply for this product. The monthly insurance fee varies from about $4 to $88 depending on the customer’s age, selected option and plan. The new product part of Citibank’s “Positive Care Plan” in Hungary.
PayPal users in
Mexico can now shop at the millions of online retailers worldwide where
PayPal is accepted with the launch of PayPal for Mexico
(www.paypal.com.mx), a new PayPal Web site for Mexican Internet users to
confidently buy and sell online using Mexican Pesos. The service enables
Mexican buyers to securely pay for their online purchases using their
credit cards or bank accounts. The Peso is the first Latin American currency to be added to the PayPal
system. PayPal enables payments in 19 currencies including the U.S.
Dollar, Canadian Dollar, Australian Dollar, Euro, British Pound,
Japanese Yen, Chinese Yuan, Czech Koruna, Danish Krone, Hong Kong
Dollar, Hungarian Forint, New Zealand Dollar, Norwegian Krone, Polish
Zloty, Singaporean Dollar, Swedish Krona, Swiss Franc and Israeli New
Shekel. Mexican sellers can receive
payments from PayPal’s large network of 65 million active members around
the globe, as well as withdraw their balances directly to any local bank.
Paypal has been granted a European Union banking license and can
now continue to offer services to online merchants throughout Europe.
Paypal hopes to eventually offer their service through most online
European retail sites. Currently, it has 35 million accounts and is offered
on more than 100,000 websites in Europe and supports payments
from 190 markets in 17 currencies. PayPal processed $8.4 billion of
total payment volume in Europe last year and research shows 23% of
European Internet shoppers prefer their service.
Paypal has announced that it has reached the milestone of 35 million
accounts in Europe. Further demonstrating the services’ growing
popularity, 23% of European online consumers use the company’s protected
payment service. Without ever having to retype their financial
information or share it with the merchant, in 2006 Paypal users spent
$8.4 billion in Europe. The service has a presence in 15 countries,
supports payments from 103 markets using 17 global currencies, and has
more than 133 million accounts.
PayPal now has nearly 117 million accounts worldwide, expanding by 35% over one-year ago. The firm, an eBay company, now supports payments in 10 new currencies, allowing customers to send, receive and hold funds in a total of 17 currencies worldwide. The new currencies are the Czech Koruna, Danish Krone, Hong Kong Dollar, Hungarian Forint, New Zealand Dollar, Norwegian Krone, Polish Zloty, Singapore Dollar, Swedish Krona, and Swiss Franc. These new currencies add to those already available to PayPal customers, including US Dollars, Australian Dollars, Euros, Pounds Sterling, Canadian Dollars, Japanese Yen and Chinese RMB. PayPal also announced this week that residents in 48 new markets can now use PayPal in their local markets to send money online. These new markets include Indonesia, the Philippines, Croatia, Fiji, Vietnam and Jordan.
PAYPAL ACCOUNT HISTORICAL
3Q/04: 56.7 million
4Q/04: 63.8 million
1Q/05: 71.6 million
2Q/05: 78.9 million
3Q/05: 86.6 million
4Q/05: 96.2 million
1Q/06: 105.0 million
2Q/06: 113.7 million
3Q/06: 116.6 million
Source: CardData (www.carddata.com)