| July 6 Payments NEXT newsletter: CITCON, Verifi, GoCardless, OrderDynamics, Amazon, Visa, more...
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| Happy July 5 to our US readers and welcome to this week’s global payments newsletter. We start with a look at the growing Chinese traveler payments market and CITCON’s EU expansion. Most consumers pick online payments security over convenience, but to the Brits, it’s a close call, according to research from GoCardless. Visa buys Verifi in an effort to battle chargebacks. The cost of building fulfillment centers for Walmart to compete with Amazon is huge. OrderDynamics says US retailers are lagging when it comes to buy-online-pickup-in-store (BOPIS).
The global payments news roundup has lots more, including Visa and PayPal real-time payments, a McKinsey study on which countries' residents gets the most packages yearly, millennial shoppers, and Adyen amps up payments for merchants in Canada. If you’re celebrating the remainder of the July 4 long weekend in the US, we hope you enjoy it with friends and family.
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| CITCON growing Chinese payments market in EU
Chinese tourists made 140 million outbound trips in 2018, up 13.5% from the previous year, according to the China Tourism Academy. To help EU merchants meet this growing market, CITCON, a US cross-border mobile payments firm announced enhanced market support and services that integrate familiar payments options including Alipay, WeChat Pay, and China UnionPay, the most common payment methods for over one billion Chinese consumers. Read more… |
| Security over convenience when paying online
Consumers in Europe think security is more important than convenience when it comes to paying online. But in the UK, the difference is quite small. Over half of Brits chose security, while 43% selected convenience. This is one of the conclusions from the report ‘Security vs convenience in the payment experience’ a study by GoCardless among 4,000 customers across the United Kingdom, France, Germany and Spain about their opinion on security and convenience when shopping online. Read more… |
| Not even Walmart has enough cash to compete with Amazon's e-commerce fulfillment empire, report says
Walmart's e-commerce push has been hamstrung in part because of its lack of e-commerce fulfillment centers. Amazon has 110 fulfillment centers in the US to Walmart's 20, Recode reported. Building more of those fulfillment centers requires serious investment. Amazon's newest fulfillment center, which will open early July on the outskirts of New Haven, Connecticut, cost some $250 million to build. Read more... |
| Germans receive the most packages
Consumers in Germany receive more packages per year than every other citizen in Europe. Per capita in Germany there are 24 shipments per year. That’s twice as many as in the Netherlands for example. Consulting firm McKinsey published a study about the number of packages consumers in Europe and other markets receive. Although Germany is the number one in Europe, it’s not the number one in the study. That honor goes to China, with an estimated 70 parcels per capita. Read more… |
| July 5 Global payments news roundup
In Canada, Visa and PayPal enable faster real-time payments for business and consumers. Interesting McKinsey study shows Germans get 24 online shopping packages annually, compared to only two in Italy. Huh? Amazon plans to launch more than 3,000 satellites for a new global internet service. New research looks at the shift from millennials to GenZ shopping influence. Adyen added Interac Debit on Mobile for In-app and In-browser for Canadian merchant payments. Read more… |
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