By Tom Goldsmith, on May 16th, 2012
If mobile commerce needs a selling point for merchants, here it is: Consumers who shop by phone spend more money and are more profitable for retailers.
A study by Custora, a retail analytics firm, says shoppers make a purchase 59% more often when using mobile devices and over a two year period, generate 32% more profit, according to a report at internet retailer.com. The Custora study saysthat mobile shopping patterns vary widely dependeing on the day of the week and type of retailer.
“We all know mobile commerce is growing, but there’s no easy way to categorize mobile customers—they behave differently for every retailer,” says Corey Pierson, co-founder and CEO of Custora. “To develop a mobile strategy, it’s critical to understand what mobile means for your . . . → Read More: Mobile Shoppers Spend More and Generate More Profit
By Tom Goldsmith, on May 15th, 2012
With EMV, probably including chip and PIN technology, arriving in the U.S. over the next few years, it’s worth noting that the technology has had a significant impact on the levels of fraud and the types of fraud where it has been implemented.
The analytics firm FICO has just released a report on changes in the fraud picture in Europe where EMV is now pretty much the defacto standard. What it sees is lower fraud risk in most places but a significant shift away from fraud in card-present POS situations and toward on-line transactions, where the chip and PIN methodology doesn’t come into play.
A nifty interactive map lays it . . . → Read More: EMV, Chip and PIN Remake Fraud Landscape
By Tom Goldsmith, on May 14th, 2012
Despite a deliberate, or perhaps cautious, roll-out, the Isis joint venture continues to make headway in the competitive battle for the smart phone NFC digital wallet arena. Late last week Isis, which is a joint venture among the three largest U.S. cell phone carriers (AT&T, Verizon & T-Mobile), said it reached agreement with American Express for support of its platform.
Amex joins Visa and MasterCard on the Isis wallet. Discover says it also plans to support the platform, but has not yet implemented the necessary technology. MasterCard, through Citibank, also is supporting Google Wallet, Isis main rival, but the other card companies, and carriers other than Sprint, so far haven’t . . . → Read More: Amex Joins Isis Wallet
By Tom Goldsmith, on May 11th, 2012
First Data Corporation, has released its April SpendTrend analysis and the report shows that overall year-over-year dollar volume growth was 5.7% in April, down from March’s 8.7% growth. Transaction growth slowed to 5.8% in April, down from 9.3% in March. Despite the slowdown in overall year-over-year dollar volume and transaction growth, discretionary spending was healthy in April.
“April’s card spending was impacted by an earlier Easter, plus the unseasonably warm weather in February and March, which pulled forward seasonal demand,” said Silvio Tavares, SVP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend.
PIN debit remained the leading payment type among consumers, although its upward growth trend moderated in April. PIN debit dollar volume growth was up 7.4% in April, while PIN debit transaction growth increased 7.5%.
SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. . . . → Read More: FDC’s Spend Trend: Consumer Spending Healthy but Growth Trend Slows
By Tom Goldsmith, on May 10th, 2012
WorldPay says alternative payments growth will be 13% through 2015, led by a rapidly growing ewallet segment. The company says its research shows that in online commerce, alternatives payment methods will outstrip card-based payments in the same period.
The report came with what WorldPay called an interactive heat map that highlights its findings. The report can be . . . → Read More: WorldPay Predicts Rapid Alternative Payments Growth
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