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Mobile commerce readiness: A merchant and consumer perspective – Pt 1
With the underlying infrastructure for mobile commerce – payment tokenization, smartphones and contactless point-of-sale (POS) terminals, for example – taking hold, the industry must begin to shift its focus to value. Technologies such as mobile wallets hold latent and largely untapped potential. But wallets and other next-generation commerce tools must first prove the existence of [...]
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New global specifications for QR Code Payment
Visa says it will support of the new global QR Code Payment Specifications from EMVCo, the global technical body that manages the EMV Specifications. The specifications cover consumer-presented and merchant-presented QR code payment use cases for digital payment acceptance. QR codes are two-dimensional machine-readable barcodes, used to facilitate mobile payments at the point-of-sale. Visa and the [...]
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Mobile banking and its use as a payments channel
58% of US smartphone users have downloaded a mobile banking app for their primary checking account, and 50% of US smartphone users (including 68% of those under 35 and 31% of those 55 and over) are active users. 75% of mobile banking users log in weekly, primarily to check their balances/transaction history. These figures are [...]
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Worldwide retail e-commerce sales reach $1.9 trillion in 2016
Retail e-commerce sales – which include products and services (barring travel, restaurant and event ticket sales) ordered via the internet over any device – reached $1.915 trillion in 2016, accounting for 8.7% of total retail spending worldwide. While the pace of growth for overall retail sales is subdued, the digital portion of sales continues to [...]
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Market Overview: Payments in Russia
On the centenary of the Russian Revolution, we examine payments in the world’s largest country. How do Russians pay today? And given the state bank dynamic, a new domestic card scheme and an internet-connected, tech-savvy population, what does the future hold for payments in Russia? Russia covers 13 percent of the world’s surface, spans eleven time [...]
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