| July 27 Payments NEXT newsletter: ActiveViam, PPRO, Juniper Research, TSB, Alibaba, Paysafe, Klarna, Park Place Payments, ForeverDonor |
| It’s our weekly global payments news roundup primed and ready for your weekend reading pleasure. We start with a look at ActiveViam research showing 71% of retailers are concerned about getting outpriced by Amazon. For the first time, alternate payments now make up 51% of all online travel payments according to a PPRO/Amadeus report. Meanwhile, in the US and UK, Juniper Research says consumers are starting to open up and pay with their mobile wallets. Scotland’s TBS Bank wants you to smile and open up your next bank account with a selfie.
Plus lots more global payments news in the weekly news roundup below. Good reading and have a great weekend!
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| 71% of retailers fear outpricing by Amazon
New research by ActiveViam shows nearly three-quarters of retailers are concerned about their ability to compete with Amazon pricing. 71% said that they are concerned about being outpriced by Amazon — with 41% saying they are “very concerned.” In addition, 49% of respondents were concerned about being outpriced by other brick-and-mortar retailers, while 42% said they were concerned about being outpriced by direct-to-consumer (DTC) brands. Read more... |
| Alternate payments in the travel industry are taking off
A new research report from PPRO and Amadeus shows alternate payment transactions in the global travel industry have taken off and surpassed more than half of e-commerce travel transactions for the first time. Travelers now choose to pay for digital travel with alternative methods more often than cards and cash combined, accounting for 51% of global travel e-commerce spending the report said. Read more…
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| Research: Consumers opening their digital wallets in US, EU
Consumers will open their digital wallets 40% more and spend nearly $790 billion this year across Europe and North America, according to a new report from Juniper Research. The study predicts the largest growth in 2019 will come from instore payments, with mobile contactless payments more than doubling across the US and EU. That’s encouraging news for multichannel retailers. Globally, the number of people using digital wallets will increase from 2.3 billion this year to nearly 4 billion, or 50% of the world’s population by 2024. Read more... |
| Smile, and open TSB bank account with a selfie
TSB is the latest bank to enable bank account openings with a selfie, hoping to gain new bank customers, especially from the ranks of Generation Z, as well as Gen X, Millennials, “Cuspers”, and even a few smartphone-using Boomers. The bank partnered with Palo Alto, CA-headquartered AI identification firm Jumio to develop TSB’s account opening technology. Jumio has now verified more than 180 million identities around the world for companies in every sector including HSBC, Airbnb, Wework, and United Airlines. Read more... |
| Payments NEXT – July 26: Global payments news roundup
Our payments news roundup includes the launch of a US e-commerce platform by Alibaba. Creditcards.com identifies the best cashback cards. Paysafe examines why shoppers don’t trust voice payments. Retailers are struggling to keep up with rising consumer expectations according to new Klarna research. Park Place Payments is out to transform the $8 billion payments industry with a workforce of women and advanced technology aimed at small business. Finally, ForeverDonor.com launched a new donations platform that really is forever. Read more… |
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