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UK shoppers are returning £7 billion of purchases every year, leading to a ‘phantom economy’ of lost revenue for retailers, with sales coming in which they are unable to recognise. New research from Barclaycard, which processes nearly half of the nation’s credit and debit card transactions, reveals that a quarter of retailers (26 percent) have [...]
In 2017, retail e-commerce sales worldwide reached $2.304 trillion, a 24.8 percent increase over the previous year. Mobile payments were a key factor, as m-commerce sales totalled $1.357 trillion, making up 58.9 percent of digital sales—a large jump in share from 40.2 percent in 2015 according to eMarketer estimates. A majority of first-time digital buyers [...]
The post MOBILE PAYMENTS DRIVING RETAIL E-COMMERCE SALES WORLDWIDE appeared first on Payments Cards & Mobile.
India (27 percent), Philippines (51 percent), Colombia (45 percent) the UAE (33 percent) and China (27 percent) are some of the fastest growing e-commerce markets in terms of percentage growth, according to the latest worldwide study by PPRO Group. Perhaps not surprisingly, 40 percent of the world’s e-commerce sales are made in China, so retailers [...]
The Internet of Things (IoT) is already being used across many industries. It is ushering in an era in which smart things can seamlessly collect, share and analyse data. It forces financial services, manufacturers and retailers worldwide to dramatically change the way they do business. Studies that have assessed the growth potential for IoT agree [...]
The major payment networks Visa, Mastercard and American Express say they are preparing for a better online payments experience by backing the EMVCo Secure Remote Commerce specification (SRC). The specification, announced in November, establishes the technical framework for enabling consumers to use their payment cards across channels more easily than current protocols allow. For example, [...]