| Nov 23 Global payments newsletter: PayPal, Honey, TransUnion, PPRO, global e-commerce, Macy’s data breach, 7-Eleven, Target, global card purchases, more...
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| Yes, we know you’ve been watching the impeachment hearings but it’s time to get caught up on global payments news from around the globe. We start with PayPal’s acquisition of shopping and rewards technology company Honey and why it makes strategic sense. TransUnion takes a look at merchant fraud risk during the holiday season. Our guest post from PPRO looks at how businesses can expand into Latin America for best results. Lots more in the news roundup following.
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| PayPal seeks rewards gold in Honey acquisition
PayPal announced the acquisition of Los Angeles-based consumer shopping and rewards technology company Honey for $4 billion. Launched in 2012, Honey has 17 million active users who use the platform to find savings as they shop online at more than 30,000 participating online merchants in every product category. Honey says it has helped consumers save more than $2 billion since launching through its mobile shopping assistant, coupon codes, Honey Gold rewards program, and price-tracking tools and alerts. Read more… |
| TransUnion fraud survey highlights merchant holiday sales risks
With Black Friday and Cyber Monday approaching, online sellers are gearing up for the most important sales event of the year. Unfortunately, fraudsters are also gearing up and consumers are concerned. According to a new report from TransUnion, nearly half of consumers (46%) are worried about becoming a victim of fraud this holiday season, yet they also want a convenient online shopping experience. 68% say they want online retailers to protect both their Login IDs/passwords as well as their credit card information. Read more… |
| How to expand your business into Latin America
Latin America is a continent of contrasts – both culturally and economically. The region comprises countries whose per capita GDP compares favorably with mid-ranking European nations, but also those whose citizens are among the poorest globally. Despite the wide variation, consumers are buying online in increasing numbers and creating huge opportunities for businesses. But it’s a bit more complicated than simply opening up shop. The opportunities are far from uniform, as seen by e-commerce growth rates. The median rate of B2C e-commerce growth is 22.9%, yet there are outliers: Argentina at 46.9% and Chile at 28.2%. Read more... |
| Nov 22 Global payments news roundup
The news roundup is loaded with news you can use. US Department of Commerce said consumers spent $145.74 billion online with US retailers in Q3, up 17.3% while global e-commerce grew 18% to reach $2.86 trillion. Macy’s was hit with another data breach, the second in two months. 7-Eleven launched a voice delivery app providing 30-minute delivery in 34 US cities. Q3 e-commerce sales at Target jumped 31% thanks to fashion and same-day delivery initiatives. Worldwide payment fraud losses hit $27.85 billion according to the Nilson Report. Spending on US credit, debit and prepaid cards in the US will top $10.09 trillion by 2023. Read more… |
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