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SMART Payments: Step 4 – 3 steps to successful omnichannel payments
Technology and new payment formats have revolutionised the retail industry as cards replace cash, and e- and m-commerce provide new platforms for retail. Rather than abandoning bricks-and-mortar, many shoppers engage... more
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The Challenge for Retailers – Building an Open Payment Platform
In the last decade, contactless technologies, the mobile Internet and always connected mobile devices have significantly changed the way consumers consider their shopping experience. Consumers are also looking for seamless simplicity, this is driving retailers to define new user experiences, with the keys to this being frictionless transactions and omnichannel options for the consumer. The [...]
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UK Shoppers online spending hits £1 billion on average per week
According to the latest figures revealed by ONS, retailers saw continued growth in online spending throughout December which continued into the New Year. Figures show retail sales increased by 4.3% compared to December 2015 and fell by 1.9% compared to November 2016. In December 2016 the average weekly spending online was £1.0 billion; an increase of [...]
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Singles Day hits new spending record
The Chinese economy is slowing but Singles Day shoppers still went for it online and drove Singles Day sales up to more than $10bn on Alibaba by 2pm on Wednesday, beating last year’s record of $9.3bn. Singles Day is the biggest shopping frenzy in the global calendar; the $5bn of sales recorded in the first 90 minutes on Wednesday by [...]
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The impact of the interchange fee regulation: a Bank view
The ways in which we pay and are paid are changing. Apple Pay has been launched in the UK, Barclays has announced that it will launch Android-based mobile payments later this year, and we expect Samsung and Android ‘Pays’ soon. ‘Omnichannel’ has moved from being a buzzword to a reality, as people buy using not [...]
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