WEX Europe announced its European travel customers now have the ability to issue and settle payments in 11 currencies, up from three currencies, through WEX Virtual Payments.
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.
TransferWise international P2P has made it even easier to transfer money, allowing customers to enter their debit card details directly into the website. In 2012, TransferWise transferred over GBP50m worth of customer money and the team grew to 25 people. It introduced the US Dollar, the Swiss Franc, Polish Zloty, Swedish Krona, Danish Krone and the Norwegian Krone and won the coveted Europas award for best startup.
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.
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)
Hypercom confirmed its previous guidance for full year 2004 revenues of $254-260 million but reduced its expectation of full year income from continuing operations from $21.0-22.4 million to $13.4-16.5 million. Hypercom is a leading global provider of electronic payment solutions that add value at point-of-sale transactions for consumers, merchants, and acquirers, and yield increased profitability for its customers. Widely recognized as the payment technology innovator, Hypercom delivers comprehensive card payment terminal, network and server solutions that help merchants and financial institutions generate revenues and increased profits.
Schlumberger reported that its revenues for smart cards increased 27% to
$202 million, compared to one year ago. Last month Schlumberger changed
the name of Schlumberger Smart Cards & Terminals to Axalto. Axalto had
pretax operating income of $22 million in the third quarter compared to
$8 million in the second quarter, and $7 million one year ago. Mobile
communication card deliveries increased significantly, with three
consecutive all-time monthly volume records. The average sales price of
SIM cards increased by 14% compared with the previous quarter due to
important deliveries of very high-end 64K and 128K cards, mainly in
Italy, Brazil, Russia, Romania, Saudi Arabia and the Philippines. Other
card activities were also significant, driven by shipments for the
banking conversion to the EMV standard in the UK, strong e-purse
deliveries in Malaysia, robust pay-TV shipments in the US, and high
volumes of phone cards and scratch cards in China and Mexico.
CyberSource and E4X have teamed to deliver a multi-currency e-commerce service that combines E4X’s ability to eliminate currency conversion risks for both sellers and their customers, and CyberSource’s ability to provide payment and risk management solutions through a single interface. E4X’s currency conversion works two ways: merchants price products in their own operating currencies and these prices are dynamically converted into final prices in local currencies (based on a guaranteed rate), or merchants can display fixed pricing in local currencies. CyberSource is a provider of electronic payment and risk management solutions to approximately 3,000 businesses.