News
Stay up to date with CommerceGate news through our RSS Newsfeed
You can also follow CommerceGate on Twitter
Dont forget to sign up to our newsletter!
2010-07-28
Small businesses 'vital to stoke economy'
Small firms, many of which rely on an internet merchant account and direct debit payment processing, will prove "hugely important" in dragging the UK economy out of recession, it has been claimed.
Small firms, many of which rely on an internet merchant account and direct debit payment processing, will prove "hugely important" in dragging the UK economy out of recession, it has been claimed.
This is the view of Bytestart.co.uk director Emyr Williams, who claims that while there may be tricky times ahead for small businesses, the outlook is positive.
He said that cuts to the public sector will be "a drag" on the economy in the short-term, but this will result in a "healthier economy in the long-run".
"Small businesses are hugely important in driving the UK economy," Mr Williams said.
"As the bloated public sector is shrunk it's vital that small businesses are there to provide employment and stoke the engine of the economic recovery," the business website director explained.
He added that the early indications are that the new government is encouragingly pro-business.
The comments come after the Business Factors Index published by Bibby Financial Services found that most small firms (72 per cent) are positive about their situation, despite business output falling by 12.4 percentage points during the second quarter of 2010.
read more 2010-07-28
Shoppers start search online
The scope for retailers that accept credit cards online has been shown by new research that found two-thirds of shoppers begin their search online.
The scope for retailers that accept credit cards online has been shown by new research that found two-thirds of shoppers begin their search online.
Half of these consumers convert on the internet, using online payment processing to order their product without having to leave their home, according to research from comScore.
For most shoppers, the "path to purchase" starts by looking on search engines and retail websites.
On average, consumers consult an average of 4.1 information sources whilst looking for a product.
The ranking on a search engine listing is important, with shoppers associating relevance and quality with items at the top of search results.
For retail sites, the research found that shoppers believe that pop-ups and advertising is a minus, while pricing and product information should be displayed prominently and product comparison tools should be provided.
John Federman, president and chief executive officer of Searchandise Commerce, which commissioned the survey, claimed that retailers are getting providing better on-site search tools.
"Attaining top position in search results is key to winning a higher share of clicks and sales," he explained.
Online advertising is bucking the general marketing trend, growing by two per cent last year, according to eMarketer.
read more 2010-07-27
IMRG launch new service to boost online sales
Firms that accept credit cards online are the target of a new service launched to help boost online sales.
Firms that accept credit cards online are the target of a new service launched to help boost online sales.
The new IMRG programme will measure customer experience throughout the entire purchase process.
Called the Index of Customer Experience (ICE), the new service is designed to provide information from customers on how online retailers can make changes that will encourage consumers to repurchase and recommend then retailer to friends.
ICE, which is managed by IMRG partners Rebelati, will also feature an awards programme and newspaper supplement to help raise awareness of internet sales and online payment processing.
IMRG managing director David Smith commented: "This bold and original initiative supports our aims of helping individual performers raise their game and also boosting consumer confidence in online retailing."
He added that ICE will provide a "unique and consistent" yardstick to allow firms to develop their customers' experience.
IMRG and partner Capgemini recently released figures showing online retail is on the rise in the UK, with 20 per cent year-on-year growth reported in June.
read more 2010-07-27
Online payment processing sees Amazon profits rise
Online payment processing has seen Amazon report a strong second quarter to the year.
Online payment processing has seen Amazon report a strong second quarter to the year.
The online retailer reported sales during the second three months of 2010 were up on the same period last year by 41 per cent to $6.57 billion (£4.2 billion).
Included in this figure is the effect of "unfavourable" exchange rates, that knocked about one per cent of the total increase on last year.
Net income was also well up on the second quarter of 2009 - a 45 per cent rise taking the figure to $207 million (£133 million).
Amazon founder and chief executive officer Jeff Bezos said: "We're seeing rapid growth in Kindle, Amazon Web Services, third-party sales, and retail."
"We're also encouraged by what we see in mobile. In the last twelve months, customers around the world have ordered more than $1 billion [£650 million] of products from Amazon using a mobile device."
His comments chime with figures from IE Market Research that show online transactions from mobile devices will hit the $1 trillion (£650 billion) mark by 2014.
read more 2010-07-26
iPhones 'key to m-commerce'
Firms reliant on online payment processing may wish to take note of new survey that suggests iPhone users could be better customers than people with other smartphones.
Firms reliant on online payment processing may wish to take note of new survey that suggests iPhone users could be better customers than people with other smartphones.
Apple iPhone users tend to shop and buy more online than users of other devices, according to a new report from Yankee Group entitled Why iPhones Matter.
The report, based on research carried out in the US, found that the average iPhone user is 32-years-old and has household income of $100,000 (£65,000).
Owners of other smartphones have an average age of 34 and household income of $85,000 (£55,000).
"iPhone owners download more apps, are more interested in mobile transactions and conduct more mobile e-commerce," the report states.
The news comes after a recent study from IE Market Research suggested that m-commerce transactions will be carried out by 500 million people by the end of the year, rising to one billion by 2014.
By that date, mobile online payment processing and online direct debit payment processing is due to hit the $1 trillion (£650 billion) mark.
read more 2010-07-26
Courier firm's profits 'soar' as online retail grows
UPS, a courier service used by firms that accept credit cards online to deliver packages to customers, has announced strong quarterly figures.
UPS, a courier service used by firms that accept credit cards online to deliver packages to customers, has announced strong quarterly figures.
The firm announced quarterly operating profit for the second three months of 2010 of $1.4 billion (£900 million), up 57 per cent on the same period in 2009.
Adjusted earnings soared by 71 per cent on 2009 figures, driven by a 13 per cent rise in global revenue.
Much of the growth came from outside the US, with non-US domestic volume increasing by 24 per cent, driven by an acquisition in Turkey in 2009 as well as strong performances in core European countries and Canada.
UPS chairman and chief executive officer Scott Davis said the company had "fired on all cylinders" in the second quarter of 2010 in the face of a tricky economic situation.
"Substantial growth in our international segment continues to outpace the market. It's clear the strategic direction we've set for the company is proving successful," he explained.
The news comes as online retailers in the UK reported a record June, with sales up by 20 per cent on the same month in 2009.
read more 2010-07-26
AmEx profits soar
Profits from credit card processing carried out by American Express rose in the second quarter of 2010 to over $1 billion (£650 million), the firm has announced.
Profits from credit card processing carried out by American Express rose in the second quarter of 2010 to over $1 billion (£650 million), the firm has announced.
Cardmember spending was up 16 per cent in the quarter, contributing to the soaring profit take, which was well up on the $337 (£217 million) net income from the second quarter of 2009.
US Card Services reported second quarter net income of $522 million (£337 million), up from a $153 million (£99 million) loss made in the same period of 2009.
"Spending rose across all segments with the largest increases coming from corporate cards, cards issued by our bank partners, charge cards and premium co-brand products where many cardmembers tend to pay in full each month," explained American Express chairman and chief executive officer Kenneth I Chenault.
He added that the firm remains cautious over the economy and the "challenging" regulatory environment.
The news comes after Visa reported that the value of plastic transactions, such as online credit card processing or debit card purchases, was up by ten per cent in the UK in the second quarter of 2010 compared to the same period in 2009.
read more 2010-07-23
Online clothes sales 'boosted by sunny days'
Online payment processing is helped by sunny weather, it has been claimed, after online clothes sales were up 22 per cent year-on-year in June.
Online payment processing is helped by sunny weather, it has been claimed, after online clothes sales were up 22 per cent year-on-year in June.
This is the view of Verdict Research retail analyst Sarah Peters, who said that the good weather meant people wanted to update their wardrobes for the summer.
She said that this, coupled with a desire to not spend sunny days trudging through shops, resulted in the bumper June for online retailers.
"We saw some really good weather in June as well, so while people obviously need to go out and buy summer clothing, they probably want to spend less time out there actually shopping," she said.
Ms Peters added that buying online is a quick and easy way of getting summer clothing without having to spend any precious free time in shops.
Online clothes sales rise of 22 per cent on last June was slightly above the average e-retail increase of 20 per cent, according to the latest IMRG/Capgemini figures.
read more 2010-07-23
Online video advertising 'should be targeted'
Online video advertising, an increasingly important element for firms that accept credit cards online, needs to be targeted at a particular audience, it has been claimed.
Online video advertising, an increasingly important element for firms that accept credit cards online, needs to be targeted at a particular audience, it has been claimed.
This is the view of Web TV Enterprise managing director Jamie Estrin, who says that the online video advertising sector "is going on an upward curve".
He was commenting on the latest figures from eMarketer that showed unprecedented growth in the industry.
Online advertising as a whole grew by two per cent last year to $55.2 billion (£36.2 billion), going against the general trend seen in the mainstream media.
"Targeting has got a lot better; young people engaging with linear TV are still seeing advertising and brands that are not relevant to them," explained Mr Estrin.
"Because the web has so many niche content areas, the targeting opportunities are greater than there are in other mediums."
According to eMarketer, online advertising is expected to resume double-digit growth and reach $61.8 billion (£40.5 billion).
read more 2010-07-23
Couples 'have more disposable income'
Retailers with internet merchant accounts may want to target couples with their advertising, after research shows single people tend to have money to spend.
Retailers with internet merchant accounts may want to target couples with their advertising, after research shows single people tend to have money to spend.
Over an entire lifetime, single people end up paying more than £250,000 extra on essential living costs than somebody who lives as part of a couple, according to new research from uSwitch.com.
The report found that singletons in the UK have an average of £4,794 less money to spend on goods online after things like housing costs, essential bills and food are taken out of the equation.
Mark Bower, managing director of price comparison website moneymaxim.co.uk, is in no doubt that single people have less disposable cash for buying things online.
"There are more costs upon items such as their homes and their mortgage. They probably have their own car, rather than a car [shared with] the family, and they can end up spending a bigger proportion of their income as a result," he explained.
read more 2010-07-22
Smartphones 'alien to some people'
Consumer technology - such as smartphones that allow mobile online payment processing - has the power to link people together, it has been claimed.
Consumer technology - such as smartphones that allow mobile online payment processing - has the power to link people together, it has been claimed.
The Gadget Show host Jon Bentley says that while these things will never replace face-to-face contact, they do allow people to communicate more effectively.
He was commenting on new figures from O2 that show one in five people surveyed have never used Wi-Fi and over a quarter have not used a smartphone yet.
Gadgets such as the iPhone or the Blackberry are very "consumer focused" and easy to use, Richard Stewart, technology guru for O2 said.
However, many people are missing out on the benefits of these technologies because they do not know how to use them.
"Wi-Fi smartphones like the iPhone or Blackberry, as well as social networking, are still alien to some people," he commented.
The figures from O2 reveal that in the UK, at least, the market for mobile technology and the associated retail and business benefits is still open to substantial growth.
read more 2010-07-22
Petrol prices 'driving online payment processing'
Online payment processing is growing as a result of higher petrol prices in the UK, it has been claimed.
Online payment processing is growing as a result of higher petrol prices in the UK, it has been claimed.
There is a link between rising petrol prices and the upward trend of online retail, according to an article on bigmouthmedia.com.
The piece states: "Rather than jumping in a car and driving to the high street, local shops or retail parks for their weekly grocery shopping, online spending growth could reveal that consumers are instead jumping on the internet super highway."
Online retail has been grown rapidly in recent years, with the likes of Amazon and firms that accept credit cards online entering the mainstream.
The article points out that many e-retailers are noticing the trend and are beginning to offer free delivery and returns.
The latest IMRG/Capgemini e-Retail Sales Index noted that online retailers had busy June, with sales up 20 per cent on the same month last year.
Firms that offer multiple opportunities to buy their products, such as high street stores that allow consumers to buy goods online fared best, seeing a 27 per cent year-on-year increase.
read more 2010-07-22
Online PC games sales 'match in-store levels'
Online payment processing is accounting for almost as many sales of PC games as traditional in-store purchases, according to new research.
Online payment processing is accounting for almost as many sales of PC games as traditional in-store purchases, according to new research.
Market research firm The NPD Group found that in 2009 21.3 million full-game digital downloads were purchased online in the US.
This compares with 23.5 million sales of boxed goods in shops during the same period.
NPD's research reveals that online downloads accounted for 48 per cent of unit sales and 36 per cent of "dollar sales" - the value of the transactions.
The PC Games Digital Downloads: Analyst Report also noted a decline in so-called casual digital retailers - those that often focus on smaller, more accessible games - and increase of the digital download share for frontline retailers that offer full games that are available in shops.
It is thought this decline is down to the growth of social media, explained NPD Group industry analyst Anita Frazier.
She said: "This demonstrates how consumers can now experience casual types of games through myriad vehicles, broadening the competitive landscape."
The value of social media in reaching consumers was recently highlighted by the Direct Marketing Association, which said it is "phenomenally" important for businesses.
read more 2010-07-22
CPC fraud rates rise
Internet merchant account customers have been told that cost per click (CPC) fraud for internet advertising is on the rise.
Internet merchant account customers have been told that cost per click (CPC) fraud for internet advertising is on the rise.
According to new research from Click Forensics, the overall industry average click fraud rate for the second quarter of 2010 was 18.6 per cent.
This is jump of over five per cent from the same period in 2009, which saw a click fraud rate of 12.7 per cent.
In addition, the level is slightly higher than the first three months of 2010, which saw 17.4 per cent click fraud rate reported.
"The main reasons appear to be the continued sophistication of botnets and malware prevalent in the fast-growing search marketing space," explained Click Forensics chief executive officer Paul Pellman.
"We advise online marketers to be watchful of their campaigns as they spend more on search advertising in the coming quarters."
The Click Forensics report collected data from CPC advertising campaigns from different sized firms across all top search engines and traffic across 300 advertising networks is shown in the results.
According to eMarketer senior analyst Karin von Abrams, any business can benefit from online advertising.
read more 2010-07-21
Mobile online payments to exceed $1 trillion in 5 years
Mobile online payment processing is set to hit the $1 trillion (£660 billion) mark by 2014, a new report has said.
Mobile online payment processing is set to hit the $1 trillion (£660 billion) mark by 2014, a new report has said.
According to a new study from IE Market Research (IEMR), the number of mobile payments will exceed one billion in just five years.
Worldwide mobile payments users will exceed 500 million by the end of 2010, the report forecasts.
IEMR vice president of research Nizar Assanie said the 2014 figure would represent a milestone in the online payment processing industry.
"Mobile payment and m-commerce is definitely the next frontier of contactless payments across the world," commented Mt Assanie.
The IEMR Global Mobile Payment Market Forecast includes predictions of mobile payment users, mobile transactions by technology and mobile transactions by types of purchase, such as online direct debit processing and credit card processing.
Recently, MasterCard sought to get in on the mobile payment action by releasing a new online payment processing app for iPhones.
read more 2010-07-21
Is online payment processing overtaking the high street?
While online payment processing contributed to a record e-commerce sales boom in the UK in June, a new report has found that high street retailers in Scotland felt the pinch.
While online payment processing contributed to a record e-commerce sales boom in the UK in June, a new report has found that high street retailers in Scotland felt the pinch.
According to the latest SRC-KPMG Retail Sales Monitor, like-for-like sales were 1.1 per cent lower in June than in the same month the previous year.
Scottish Retail Consortium (SRC) director Fiona Moriarty described the figures as "concerning".
She reckons the lower number of sales can be put down to the impact of public sector cuts on the wider Scottish economy.
However, online retailers in the UK reported a stunning period of growth in June, with year-on-year sales up by over 20 per cent.
KPMG's head of retail in Scotland David McCorquodale commented: "Scotland's high street may have felt busier with the start of the Scottish school holidays and brief spell of fine weather in June, but retailers continued to experience tough times."
read more 2010-07-21
Shop Direct reports growth
UK multi-channel retailers that accept credit cards online have reported a bumper June and Shop Direct is getting in on the action, it has been reported.
UK multi-channel retailers that accept credit cards online have reported a bumper June and Shop Direct is getting in on the action, it has been reported.
The UK firm has reported significantly lower losses in the year to end April 30th compared to the 12 months before that period, according to the Liverpool Echo.
Losses for the period were £21 million, compared with £114 million for 2009.
The news comes as the latest IMRG/Capgemini e-Retail Sales Index noted that firms that rely on online payment processing saw a 20 per cent year-on-year increase in internet sales in June.
Multi-channel retailers were highlighted as having a particularly strong month, with this sector witnessing a 27 per cent increase.
Shop Direct chief executive Mark Newton-Jones told the newspaper: "Today the group is a multi-brand, multi-channel business selling a huge range of products that cater for all customers across many demographic groups in every postcode."
read more 2010-07-20
Online retail sales up by 20% in June
Retailers that accept credit cards online saw a bumper month in June as sales were up by a fifth year-on-year.
Retailers that accept credit cards online saw a bumper month in June as sales were up by a fifth year-on-year.
The latest IMRG Capgemini e-Retail Sales Index reveals that online payment processing rose by 20 per cent in June compared to the same month last year as a result of sunny weather and a hectic sporting schedule.
According to the survey, multi-channel retailers in particular experienced healthy June sales, with this sector seeing year-on-year online sales growth of 27 per cent.
This is the second month in succession that online payment processing has risen by over 20 per cent, the highest rate since June 2008, explained Capgemini head of retail consulting Chris Webster.
He said: "Consumers are more savvy than ever and continue to look towards online shopping to find the best deals that the high street and the Internet can offer."
Meanwhile IMRG director of information Tim Spooner said that the online retail sector is 15 per cent up in the first six months of 2010 on the same period in 2009.
The last e-Retail Sales Index revealed a 22 per cent year-on-year increase, with people stocking up on things like flat screen TVs for the World Cup contributing to £4.5 billion in online sales in the month.
read more 2010-07-20
Online book sales rise
As more and more people turn to sites that accept credit cards online for their shopping, it seems that sales of electronic books (ebooks) are also on the increase.
As more and more people turn to sites that accept credit cards online for their shopping, it seems that sales of electronic books (ebooks) are also on the increase.
Online retailer Amazon reports that sales of ebooks for its Kindle reader have been outstripping sales of hardback books for the last three months in the US.
In the last month, online payment processing sales of ebooks are 80 per cent higher than sales of traditional hardback books.
Over the last three months electronic books outsold hardbacks by 43 per cent.
Amazon also reports that in the first six months of 2010 sales of Kindle electronic books are three times higher than in the same period in 2009.
Jeff Bezos, the founder and chief executive officer of Amazon, commented: "Amazon.com customers now purchase more Kindle books than hardcover books - astonishing when you consider that we've been selling hardcover books for 15 years, and Kindle books for 33 months."
The Kindle is now the bestselling product for the online retailer and can be purchased new for $189 (£124).
read more 2010-07-20
Amazon tops US e-retailer sites
Amazon.com was the most visited retail site in the US that accepts credit cards online, according to a new survey.
Amazon.com was the most visited retail site in the US that accepts credit cards online, according to a new survey.
The latest internet traffic results from Experian Hitwise reveal that online payment processing firms Amazon, Walmart and Target accounted for over a quarter of visits to online retail sites in the US.
Amazon had three times more visits than nearest rival Walmart, with 15.47 per cent and 5.62 per cent respectively.
Target rounded off the top three with 4.19 per cent, with J C Penney and Best Buy both accounting for 1.86 per cent of web traffic in equal fourth place.
The figures relate to the week ending July 10th and come off the back of the announcement made by Amazon UK that it is entering a new area of online retail.
Taking on the likes of Tesco and Ocado, the firm plans to sell over 22,000 different grocery products and has even launched a new app for iPhones and iPod Touch users to order their shopping on-the-go.
read more 2010-07-19
Social media 'forms bond with customers'
Firms that accept credit cards online should consider social media as a vital marketing tool, after it was claimed that it is "phenomenally" important to businesses.
Firms that accept credit cards online should consider social media as a vital marketing tool, after it was claimed that it is "phenomenally" important to businesses.
Social media forms a relationship with customers that is not possible with traditional advertising methods, according to the Direct Marketing Association PR manager Tristan Garrick.
He was commenting on recent figures from software security firm Clearswift that found over half (52 per cent) of firms believe that social media sites such as Facebook are critical to future business success.
Mr Garrick explained: "It's a matter of forming a relationship that you don't get normally with push media.
"It's just a great opportunity for consumers to take the brand in their own hands, pick it apart, play around with it and actually form a closer relationship."
Clearswift also noted that over 90 per cent of companies view such tools are useful for increasing brand awaremess.
read more 2010-07-19
Businesses warned over social media security risk
Businesses that accept credit cards online should beware the potential security hazards of social media, it has been claimed.
Businesses that accept credit cards online should beware the potential security hazards of social media, it has been claimed.
According to internet security software and services firm Trend Micro, as social media becomes a more acceptable part of marketing strategy its use is becoming increasingly widespread.
This poses a threat to businesses as there are some social network campaigns designed to spread malware, claims Rik Feguson, a solutions architect at Trend Micro.
"There's a risk that if you are not effectively screening http traffic as it comes into your organisation for malicious content, then this sort of thing could easily get through your perimeter," he warned.
A concern for many businesses is not only the use of social media in their business strategy, but also the casual use by employees on work computers.
According to Trend Micro's 2010 corporate end user survey that polled users in the UK, US, Germany and Japan, social networking at work has risen from 19 per cent in 2008 to 24 per cent in 2010.
read more 2010-07-19
Web is 'vital for brand awareness'
As businesses that use online payment processing are no doubt already aware, the web can be a vital tool for building a brand's coverage, according to marketing research and analysis firm eMarketer.
As businesses that use online payment processing are no doubt already aware, the web can be a vital tool for building a brand's coverage, according to marketing research and analysis firm eMarketer.
Senior analyst at the firm Karin von Abrams said that the internet is taking on a central role in marketing activity for almost all brands.
"Agencies are increasingly adept at truly integrated campaigns, using TV or mobile for example, to drive online engagement," she explained.
Her comments come after The Nielsen Company reported that internet advertising spend was up by 12 per cent in the second quarter of 2010 compared to the same period last year.
Ms von Abrams noted that the fast moving consumer goods sector saw particular growth after initially being slow to see the possibility of internet advertising.
"But a number of pioneering companies, such as Procter & Gamble, have changed that – as has the explosion of social media," she added.
read more 2010-07-16
Credit card processing to 'outstrip cash by 2030'
Credit card processing could help to make cash extinct by the year 2030, according to a new survey.
Credit card processing could help to make cash extinct by the year 2030, according to a new survey.
Over half of Brits (52 per cent) think that cash will become redundant within the next 20 years, according research carried out by MyVoucherCodes website.
It seems that credit card processing and the growth of retailers that accept credit cards online has resulted in over four-fifths (83 per cent) of respondents not having written a cheque in five years.
In addition, 82 per cent said that using a card for in-store purchases is easier than carrying cash.
Farhad Farhadi of MyVoucherCodes, commented: "I think it is quite possible that notes and coins could be obsolete within the next twenty years, as debit cards were only introduced in the mid-70s and since then paying by plastic has drastically increased in popularity.
"I wouldn't rule out the idea that in a couple of decade's time, we won't use cash anymore."
The news comes as Visa Europe reports that spending on cards in the UK is back to pre-recessionary levels.
read more 2010-07-16
US consumers 'worry about banking fraud'
As concerns over online payment processing security persist, it seems that US consumers are worried that their banks are not taking enough action to combat fraud.
As concerns over online payment processing security persist, it seems that US consumers are worried that their banks are not taking enough action to combat fraud.
According to a survey carried out by Detica NetReveal and Ipsos MORI, two-thirds (65 per cent) of US respondents want more insight into the preventative measures that banks have implemented to detect and combat fraud.
Nearly half (48 per cent) said they are either fairly or very concerned that their bank account is at risk of fraud.
The survey highlights the importance of online payment processing and internet merchant account security to ensure that people's personal bank details are not being seen by the wrong people.
"It is ultimately their accounts that are at risk and their assets and financial identity that are under attack," warned Aite Group senior analyst Wesley Wilhelm.
The news comes after finextra.com reports that Bank of America has launched an online-only bank account.
read more 2010-07-16
Online payment processing leaders elected to board
Leaders in the field of online payment processing have been elected to the board of the Merchant Risk Council (MRC).
Leaders in the field of online payment processing have been elected to the board of the Merchant Risk Council (MRC).
The MRC has announced new board members who will join a range of leading e-commerce brands, financial institutions and technology companies at the merchant-led trade organisation that deals with worldwide electronic commerce risk and payments.
MRC executive director Tom Donlea said he was very excited about the new board members and their ability to affect the industry.
"The collective power of the brands that gather on the MRC board is amazing," he added.
"It is our job to harness this power and the creative energy of this group to realise our mission of making e-commerce more efficient, safe and profitable."
Some of the firms now represented on the board include American Express, Hewlett-Packard, Yahoo! and UPS.
The MRC has recently expanded operations in Europe by setting up a European Advisory Board and will hold its first European e-Commerce Payments and Risk Conference in Amsterdam this September.
read more 2010-07-16
High risk payment processing Zeus malware warning
High risk payment processing could be at risk of a malware programme that is targeting online banking customers of 15 leading US financial institutions.
High risk payment processing could be at risk of a malware programme that is targeting online banking customers of 15 leading US financial institutions.
Security firm Trusteer has flagged up the Zeus (Zbot) financial malware that is exploiting two trusted credit card verification programmes.
In a statement, Trusteer said: "After users have initiated a secure online banking session, the Zeus Trojan injects into the browser a facsimile of the familiar Verified by Visa and MasterCard SecureCode enrollment screen.
"It then prompts users to enter their social security number, credit or debit card number, expiration date, and PIN or CSV code."
The information that is collected can be used by fraudsters to carry out card not present transactions.
Trusteer credits its Flashlight remote fraud investigation and mitigation for discovering this potential threat to online payment processing.
The news comes after Get Safe Online warned that anti-spyware and anti-virus software is not enough to protect internet users from security threats.
read more 2010-07-15
UK consumer spending 'back to pre-recession levels'
Firms that accept credit cards online could be enjoying happier times after a new survey shows that UK consumer spending is on the rise again.
Firms that accept credit cards online could be enjoying happier times after a new survey shows that UK consumer spending is on the rise again.
A study of credit card processing carried out by Visa Europe shows that money spent on plastic, including on credit and debit cards, increased by ten per cent in the second quarter of 2010, compared with the same period of last year.
The Visa Europe UK Expenditure Index, produced in conjunction with Markit Economics, suggests consumer confidence is back to pre-recession levels, Visa Europe commercial director Dr Steve Perry claims.
Expenditure on the 91 million Visa debit, credit and prepaid cards in the UK rose to an estimated £82 billion in the second quarter of 2010, representing the fourth successive quarterly increase.
Visa says the figures matter, given that one in every four pounds in the UK is spent on a Visa card.
Dr Perry commented: "The past decade has seen a tremendous growth in the use of cards for all types of expenditure in the UK.
"Debit cards in particular are becoming the preferred payment method for many consumers."
Barclaycard recently noted that spending on cards in the UK was 9.9 per cent higher in June than in the same month in 2009.
read more 2010-07-15
Tests confirm Visa CodeSure card credentials
Online payment processing security is a major concern for consumers and legitimate businesses alike and Visa hopes its new card can help stamp out fraud.
Online payment processing security is a major concern for consumers and legitimate businesses alike and Visa hopes its new card can help stamp out fraud.
The credit card company claims its new CodeSure card will make a significant difference to online payment processing with its unique security system.
CodeSure works by having a keypad and display integrated into the card. When making a purchase when not physically present - such as when buying online - the user inputs his or her PIN into the card.
A unique one-time authorisation code is displayed on then displayed on the card, which the customer can then input to finalise the transaction.
Visa hopes it will benefit consumers making purchases from firms that accept credit cards online and businesses that require secure identification of individuals.
After successful trials in Europe, the card is now being commercially available across the whole continent.
There are reported to be 399 million Visa debit, credit and commercial cards active in Europe and these cards were responsible for €1.4 (£1.2) trillion worth of purchases and cash withdrawals in the 12 months to the end of March 2010.
read more 2010-07-14
Credit card processing 'on the up'
Credit card processing online and in shopes in the UK was up last month, a new report has found.
Credit card processing online and in shopes in the UK was up last month, a new report has found.
The amount of credit card processing in shops and carried out by firms that accept credit cards online was up by a tenth in June, according to the latest Barclaycard Retail Card Spending Index.
Spending on cards has enjoyed a run of four months of year-on-year increases of over eight per cent, suggesting that the post-recession recovery for retailers is gaining momentum.
Stuart Neal, head of UK payment acceptance at Barclaycard, said: "In spite of fears over the financial climate, we are still seeing a healthy recovery on spending year-on-year following the UK's exit from recession."
More optimism for the retail market came from the latest BRC-KPMG Retail Sales Monitor for June, which showed like-for-like sales over the month were up 1.2 per cent on 2009.
It is thought the good weather encouraged people to spend more and the World Cup meant that consumers were looking online for TV deals to watch the tournament.
read more 2010-07-14
Online payment processing 'not sign of general retail sales boost'
Online payment processing and in-store credit card use is not a sign of the wider trends in retail sales, it is claimed.
Online payment processing and in-store credit card use is not a sign of the wider trends in retail sales, it is claimed.
Credit card processing online and in high street shops increased by 9.9 per cent in June, compared to the same month last year, Barclaycard reports.
However, according to the British Retail Consortium (BRC), the effects of the Budget are yet to be fully felt by consumers in the UK.
Richard Dodd, a spokesman for the BRC, said that the UK is in a "calm before the storm period".
"The effects of those measures have not yet been felt. So I think consumer confidence will take a serious knock once the impact of that is actually felt," he commented.
"The spending on credit cards alone is clearly not a reflection of retail spending as a whole."
According to the BRC, UK retail sales values rose 1.2 per cent on a like-for-like basis from June 2009.
read more 2010-07-13
Universal web use 'attainable'
Plans that will no doubt see more demand for internet merchant accounts and online payment processing are attainable, it has been claimed.
Plans that will no doubt see more demand for internet merchant accounts and online payment processing are attainable, it has been claimed.
The drive to get every adult in the UK that is of working age online by 2015 will be challenging but is a realistic aim, according to Race Online 2012 policy head Graham Walker.
He said that people that are not online are certainly missing a trick.
"It is important for all working-age adults to be online as 90 per cent of all new jobs require basic internet skills and seven million vacancies were advertised online last year," he explained.
He also thinks that the people already online can help those who are not web-savvy to learn how to use the internet.
Race Online 2012 is a campaign that aims to get to make the UK the first nation where everyone can use the web.
Meanwhile, it was recently announced that BT is commencing work on rolling out superfast broadband to 87 per cent of the London in time for the 2012 Olympic Games.
read more 2010-07-13
Lane Fox calls for everyone to get online
Online billing solutions could become more important as more people get access to the internet.
Online billing solutions could become more important as more people get access to the internet.
The UK's digital champion Martha Lane Fox has launched a manifesto with the ambition of getting everyone in the UK of working age online by the end of this parliament in 2015.
Lane Fox, the internet pioneer of Lastminute.com that was one of the first websites to accept credit cards online for holiday bookings and theatre tickets, wants as many people to enjoy the benefits of the web as possible.
Her plans call for urgent action to get people online, after it emerged that ten million Brits have never used the internet.
This is despite a surge in the last year that saw an additional two million people in the UK get online.
The figures from the UK Online Measurement Company reveal that the internet population increased by five per cent, with older people accounting for most of the new users.
read more 2010-07-13
Anti-spyware software 'not enough'
People worried about online payment processing scams need to do more than simply rely on their anti-virus and anti-spyware software to protect them from fraudsters, according to one internet safety expert.
People worried about online payment processing scams need to do more than simply rely on their anti-virus and anti-spyware software to protect them from fraudsters, according to one internet safety expert.
More focus needs to be put on making people more aware of how online fraud works, Get Safe Online managing director Tony Neate claims.
"There's no one thing to blame and there's no organisation or individual to blame; we've all got to work together," he explains.
"It has got to be a joint responsibility to educate people for people to take their own necessary safe guards."
He believes that everyone realises there is a problem with online payment processing fraud and that education is the key.
His comments come after figures were released by Action Fraud showing that 15,000 calls were made from the public about online fraud in the last six months.
It also revealed that around £3.5 billion is lost by individuals to fraud every year.
read more 2010-07-12
ICO announces online privacy rules
Firms that accept credit cards online that store out-of-date information or hold information about clients in an unsecure way could face official sanction, under new rules.
Firms that accept credit cards online that store out-of-date information or hold information about clients in an unsecure way could face official sanction, under new rules.
Launching the 'Personal information code of practice', the Information Commissioner's Office (ICO) said that firms that flout online privacy could face the "double whammy" of enforcement action and the loss of trust from customers.
In a speech to mark the new guidelines, the Information Commissioner Christopher Graham appealed to firms that accept credit cards online, charities and public bodies to be up front with consumers about what information they collect.
He said that a record of people's online activity can reveal their most personal interests.
"Get privacy right and you will retain the trust and confidence of your customers and users; mislead consumers or collect information you don't need and you are likely to diminish customer trust and face enforcement action from the ICO," he explained.
The news comes as the editor of .net magazine Dan Oliver claimed that the internet is now the main way that many people shop.
read more 2010-07-12
EBay app launched to boost online billing solutions
A new iPhone app for online billing solutions has been unveiled by eBay to help merchants carry out business from their mobile phones.
A new iPhone app for online billing solutions has been unveiled by eBay to help merchants carry out business from their mobile phones.
The eBay Selling app for iPhones has been released in the UK, US and Germany and builds on the success of its Buying app.
EBay's new app will allow users to scan barcodes on-the-go with the help of the firm's RedLaser technology, recently acquired from software company Occipital.
IPhone owners can download the app for free from Apple's iTunes App Store.
In addition, the online marketplace has launched an app for mobile use with Apple's new iPad notebook, which has been translated into French, Italian, German and Spanish.
"With our mobile applications, we are reducing the friction with commerce. We are enabling eBay users around the world to window shop through the iPad and sell in seconds on the iPhone," explained Steve Yankovich, vice-president of mobile at eBay.
The news comes after MasterCard recently launched its own iPhone, designed to give users access to a range of customised deals and products.
read more 2010-07-09
Internet has created 'new trade route'
Firms that accept credit cards online have been told that the internet has created "a new trade route" that has never existed before.
Firms that accept credit cards online have been told that the internet has created "a new trade route" that has never existed before.
Culture secretary Jeremy Hunt said that the internet has been incredibly significant to the UK as the country is probably the second biggest creator of digital content.
"An opportunity to trade our products in a new trade route that's never existed before", is how Mr Hunt described the internet.
However, for many in the industry it does not feel like a great opportunity because of problems with piracy and business models being ripped up.
"What I do think we have is a responsibility to create a regulatory framework that is absolutely in tune with the digital age," he added.
The news follows a survey from the UK Online Measurement Company that found internet use in the UK is on the up, with an additional two million people surfing the world wide web from the UK.
read more 2010-07-09
Online payment processing 'can save government money'
Online payment processing could be a way for government departments to save money, a senior credit card executive has claimed.
Online payment processing could be a way for government departments to save money, a senior credit card executive has claimed.
Michael Green of American Express told Public Sector Travel that government departments could save money and achieve budget cuts without affecting jobs or service levels.
"The cuts that departments have been asked to achieve are aggressive," he explained.
"This will drive people adopting card programmes and prompt those with programmes to use them more."
Public Sector Travel also notes that in the US an online payment processing programme has saved government agencies $1.7 billion (£1.1 billion), equivalent to $70 (£46) per purchase.
The comments by Mr Green seem particularly valid given the growth in internet use in the UK in recent years.
A survey by the UK Online Measurement Company and Nielsen recently noted that nearly two million additional people are now using the internet, up from 36.9 million last year to 38.8 million in 2010.
read more 2010-07-09
Internet 'main way people shop'
Online payment processing is more important to businesses than ever, it seems, after an IT expert claimed that for many people the internet is now the main way they shop.
Online payment processing is more important to businesses than ever, it seems, after an IT expert claimed that for many people the internet is now the main way they shop.
Dan Oliver of .net magazine claims that the internet "definitely" makes life easier.
He said that anyone that has had to contact a bank via the phone or had to stand in a lengthy queue to get information will view their net connection as an essential commodity.
"Using the net as a way to deliver advice and services is only going to increase," he explained.
"For many people, the internet is now the primary way they shop and entertain themselves."
His comments follow a recent report from the Joseph Rowntree Foundation, which claimed that for all non-pensioner households a computer and home internet connection are now considered essential.
Just two years ago these things were only thought essential for households with school-age children.
read more 2010-07-09
Online payment processing app launched by MasterCard
Online payment processing via smartphones is to be made easier as credit card firm MasterCard launches a new application (app) for iPhones.
Online payment processing via smartphones is to be made easier as credit card firm MasterCard launches a new application (app) for iPhones.
The new MasterCard MarketPlace app will give cardholders mobile access to "exceptional deals" from businesses that accept credit cards online, the firm says.
In a statement advertising the new product, the firm explains that the new app is a personalised shopping platform with customised deals and offers from selected retailers.
MasterCard is hoping to benefit from the growing retail trade from mobile devices after a report from ABI Research suggests that online sales via mobile phones will jump from $1.2 billion (£790 million) in 2009 to an expected $2.2 billion (£1.45 billion) in 2010.
Chief innovation officer at MasterCard Worldwide Josh Peirez said: "At MasterCard, we are leveraging the latest technology and innovation to create products and solutions that enable a simple, seamless, secure and valuable payments experience wherever they want to shop."
According to research firm Kantar, online sales are central to the 20 most valuable global retail brands.
read more 2010-07-08
High risk payment processing update for Google Chrome
Google has announced a security update to its chrome browser service that may be a relief to users of high risk payment processing.
Google has announced a security update to its chrome browser service that may be a relief to users of high risk payment processing.
The search engine giants noted nine flaws, four of which were regarded as potentially posing a high risk.
Google said that the issues related to the Mac, Linux and Windows versions of its advanced web browser.
Of the other five threats, four were rated as being of low risk and one regarded as medium.
The security fix for Chrome comes just a week before Microsoft is expected to release an update to the browser.
Mozilla recently fixed a number of suspected flaws in its Firefox web browser application with the release of the new 3.6.4 version for Windows and Linux users.
The company said the new Firefox browser would significantly reduce the risk of crashes caused by third-party applications.
read more 2010-07-08
Xbox bags Microsoft over $1bn
Microsoft's Xbox Live service, which can accept credit cards online to allow gamers around the world to play each other, has netted the company more than $1 billion (£660 million), according to a Bloomberg report.
Microsoft's Xbox Live service, which can accept credit cards online to allow gamers around the world to play each other, has netted the company more than $1 billion (£660 million), according to a Bloomberg report.
In an email to the news provider, Xbox's chief operating officer Dennis Durkin said that half of the 25 million subscribers to the service paid to play games online, while revenue generated from downloads of films and TV programmes was even greater.
Bloomberg estimates that this means the service was responsible for about $1.2 billion (£790 million) worth of revenue.
"Today with Xbox Live, it's now about 'launch, sustain, retain' by continually adding new content that enhances the original experience," Mr Durkin said.
Xbox owners can enter the world of online gaming by one of two ways.
Either they set up an account that uses online payment processing to pay for subscription to Xbox, or they can purchase a voucher from a high street shop that can be redeemed online.
read more 2010-07-07
Borders launches e-books service
Direct debit payment processing will be one method customers in the US will be able to purchase e-books from Borders, after the firm announced an expansion into the sector.
Direct debit payment processing will be one method customers in the US will be able to purchase e-books from Borders, after the firm announced an expansion into the sector.
Borders, which recently closed down all its high street stores in the UK, is to sell e-books after its competitor Barnes & Noble launched its own service.
Apple and Amazon also sell e-books, which can be read on a variety of devices.
Mike Edwards, president of Borders Inc, is confident the new business will be a success.
"We'll take market share just by turning it on," Mr Edwards told Reuters in an interview.
He also explained to the news provider that online sales of physical books are increasing because of improvements to its website.
Borders first entered the world of e-commerce and online payment processing on its own in 2008 after a seven-year partnership with Amazon.
read more 2010-07-07
Amazon enters online food retail
As more firms accept credit cards online for day-to-day shopping, Amazon has decided to expand its business to offer food and drink online.
As more firms accept credit cards online for day-to-day shopping, Amazon has decided to expand its business to offer food and drink online.
The firm, better known for selling books and CDs online, will open its grocery division to sell over 22,000 product lines.
In a move that will see Amazon take on the likes of Ocado and Tesco, the firm will sell everything from nappies to crisps with free delivery.
iPhone and iPod Touch owners will be able to download the Amazon app to take advantage of the service and order groceries on-the-go.
Amazon's grocery director James Leeson said the new service will see customers able to purchase thousands of household, niche, ethnic and international grocery items at the click of a button.
"Amazon.co.uk's aim is to be the place where customers can find and discover any product they want to buy online," he added.
The news comes as Amazon is attempting to switch it operations to cloud computing by using its own subsidiary Amazon Web Services
read more 2010-07-07
Holidaymakers warned over high risk payment processing
Brits making holiday bookings online should be aware of online payment processing scams, it has been claimed.
Brits making holiday bookings online should be aware of online payment processing scams, it has been claimed.
Get Safe Online and travel association Abta are warning holidaymakers that they could face online payment processing rip-offs, after a new survey revealed that many Brits are not taking simple precautions.
A fifth (22 per cent) of holidaymakers do not ensure that the website they are making the booking on is secure and protects them against online fraud.
In addition, a third (30 per cent) of people booking holidays online do not confirm the authenticity of travel providers, by checking they are a member of a recognised trade body for example.
Tony Neate, managing director of GetSafeOnline.org, explains: "When we've been working hard the rest of the year, for most people, making sure we have a great summer holiday is really important.
"Fraudsters recognise this and play on people's desires."
The news follows the introduction of a new EU-wide labeling system to make online payment processing more secure.
read more 2010-07-06
E-retailers told to adapt to the weather
As the British summer ebbs away, companies that accept credit cards online have been advised to adapt to the different weather conditions.
As the British summer ebbs away, companies that accept credit cards online have been advised to adapt to the different weather conditions.
Analyst firm Mintel says that the inevitable end of good weather and England's World Cup exit need not mean a decline in retail sales for high street stores or for e-retailers that accept credit cards online.
Richard Caines, senior retail analyst for Mintel, explained: "If the weather is too hot more people will head for the beach or stay in their gardens rather than go shopping for general merchandise.
"The most successful retailers will be those who can respond quickly to changes in the weather."
His comments come in the wake of retail sales figures released by the Office for National Statistics, which showed an upturn in the month of May.
Commenting at the time, British Retail Consortium director-general Stephen Robertson said that sunny weather in May encouraged spending on clothing, footwear, gardening and outdoor DIY.
read more 2010-07-06
UK firms 'face online payment procesing problems'
Four in five (79 per cent) internet retailers do not feel their online payment processing systems are up to scratch to cope with cross-border transactions, new research by Dynamic Markets has found.
Four in five (79 per cent) internet retailers do not feel their online payment processing systems are up to scratch to cope with cross-border transactions, new research by Dynamic Markets has found.
The Paypers reports that while many online merchants plan to expand into Europe, most do not feel their online billing solutions can manage.
A third (30 per cent) of respondents plan to expand into the growing customer-not-present (CNP) market in Europe, but note that cross-border sales need the ability to deal with a range of payment methods.
CNP processing was found to be disjointed in nine out of ten (86 per cent) firms that had expanded into foreign markets by way of a merger or acquisition.
The news follows comments made by Google UK chief executive Matt Brittin in the Daily Telegraph.
He said firms need to be aware of the importance of their online operations and how these impact on sales.
read more 2010-07-06
Mobile phone contracts 'are confusing'
People who use mobile phones for purchasing goods from firms that accept credit cards online could be among a significant proportion of those who say they are confused by mobile phone contracts.
People who use mobile phones for purchasing goods from firms that accept credit cards online could be among a significant proportion of those who say they are confused by mobile phone contracts.
Mobile phone contracts confuse subscribers because they can be very difficult to compare, mobile phones editor at CNET UK Flora Graham has claimed.
Her comments follow a survey from Top10.com that found that 42 per cent of Brits are confused by mobile contracts.
"Once you want to compare contacts you have to think that some have different lengths some include unlimited internet, some have different types of limits put on them," Ms Graham said.
"I think to get a good understanding of your general usage is quite difficult."
The Top10.com report also noted that 46 per cent of people worry they are on the wrong tariff and getting overcharged.
It noted that switching tariffs could save people an average of £62 per year.
read more 2010-07-06
EU mobile roaming cap is 'good news'
Online credit card processing may be among the things to benefit from a new cap on roaming charges that a leading consumer magazine has welcomed.
Online credit card processing may be among the things to benefit from a new cap on roaming charges that a leading consumer magazine has welcomed.
Which? says that new EU rules to limit the cost of using mobile devices abroad - such as for online payment processing - are good news.
The rules limiting roaming charges took effect on July 1st and mean that users bills will be capped at €50 (£41.50), unless they have actively chosen an higher or lower limit.
Mobile expert at Which? Ceri Stanway said: "There have been cases in the past of people unwittingly running up bills of literally thousands of pounds using the internet on their mobile overseas, so it's great that there is now a safety net in place."
The roaming rules apply only within the EU and Ms Stanway warned that it is still possible to run up huge costs outside this region.
Under the new rules, operators have to inform users when they have reached 80 per cent of their data allowance.
read more 2010-07-05
2m more Brits online
Two million more people could be using online payment processing in the UK, according to new figures.
Two million more people could be using online payment processing in the UK, according to new figures.
The number of people using the internet in the UK increased by five per cent in the last year from 36.9 million to 38.8 million users, new figures from the UK Online Measurement
Company (UKOM) and Nielsen show.
Of the 1.9 million additional internet users, just over half (53 per cent) are aged over 50-years-old.
Men over 50 were found to be much keener than women in the same age range to get online, accounting for nearly a quarter of a million new UK internet users (38 per cent).
Speaking on behalf of UKOM and Nielsen, Alex Burmaster commented: "The internet is getting older in more ways than one. Not only is the medium itself maturing but the audience is shifting towards older age groups."
The news follows a recent survey by IMRG-Capgemini that showed online payment processing is on the up in the UK, with a 14 per cent rise in internet sales in the first half of 2010.
read more Back to top
