Advertisement

Report: Online Merchants Dropping the Ball on Alternative Payment Options

Oct. 25, 2010

Consumers are spending more online and more than half are paying using alternative payment options, according to a new report from payments consultancy Javelin Strategy & Research and Shop.org, the e-commerce division of the National Retail Federation. But while consumers show interest in alternative payment methods—such as PayPal, Bill Me Later, Checkout by Amazon, eBillme or Google Checkout—the report found only a third of online merchants offer those methods. “Consumers are moving away from using credit cards and have increasingly adopted pay-now options such as debit cards or pay-before options such as gift cards,” said Mary Monahan, Javelin’s research director. “Many merchants underreport the market use of debit cards and are not aware of the much broader mix of payment options that consumers are already actively using. If merchants are not aware of the actual mix of debit, credit card, and other payment transactions they are handling, it may prevent them from taking full advantage of discounting opportunities, routing, or reduced fees available under the Durbin Amendment regulations, scheduled to go into effect in early 2011.” The report, Online Alternative Payments: A Merchant vs. Consumer Divide, found that less than 20 percent of the merchants surveyed consider adding online alternative payment options a high priority over the next 12 months.


  • Fifth Third Launches Payments Division - Sept. 29, 2014

    Fifth Third Launches Payments DivisionCincinnati-based regional bank Fifth Third Bank, several years after spinning off its processing arm into the company that would become acquirer Vantiv, has thrown its hat back into the payments ring with the formation of a new Payments and Commerce Solutions division.


Advertisement


  • PayPal Opens Door to Bitcoin for Digital Merchants - Sept. 25, 2014

    PayPal Opens Door to Bitcoin for Digital MerchantsPayPal signed agreements with digital-currency processors BitPay, Coinbase and GoCoin so that PayPal merchants that sell digital goods can accept Bitcoin and process the transactions through one of those providers by integrating to them through the PayPal Payments Hub.

  • Home Depot Confirms Extent of Breach - Sept. 22, 2014
    Home Depot Confirms Extent of BreachOn Thursday, Atlanta-based do-it-yourself hardware chain Home Depot confirmed that the data breach it acknowledged on Sept. 8, which was first reported by security blogger Brian Krebs on Sept. 2, exposed the information of 56 million unique payment cards, officially making it the largest retail card breach ever reported, according to multiple sources.
  • Zooz Customers Tap into China with Alipay - Sept. 18, 2014
    Zooz Customers Tap into China with AlipayZooz, an Israeli payment service provider serving large enterprises, yesterday said it reached an agreement with Chinese online payment method Alipay that will enable its merchant clients to accept payments from Alipay's 300 million account holders.
  • Feedzai Partners with Azul for Faster Decisioning - Sept. 11, 2014

    Feedzai Partners with Azul for Faster DecisioningFeedzai, a Big-Data analytics company that provides antifraud technology, yesterday said it has partnered with Azul Systems to juice up its real-time data analysis enabling the company's solution to take more data into account when deciding if online transactions are fraudulent.

  • MCX Launches Long-Awaited Mobile Payment Pilots - Sept. 4, 2014
    MCX Launches Long-Awaited Mobile Payment Pilots MCX, the merchant-backed mobile payment solution that was announced about two years ago and has been shrouded in secrecy since, yesterday announced its mobile wallet and app would be available in several pilots over the rest of 2014 and roll out nationally in 2015.
  • Jumio, IDology Partner for Simpler ID Verification - Sept. 2, 2014
    Jumio, IDology Partner for Simpler ID VerificationJumio, a Silicon Valley-based online and mobile credentials management company, and identity-verification technology provider IDology, late last week unveiled a partnership that will enable companies to use government-issued photo IDs for verification purposes in card-not-present environments.
  • China Weighs in on N.Y.'s Proposed Bitcoin Regs - Aug. 28, 2014
    China Weighs in on N.Y.’s Proposed Bitcoin RegsCEO's of the three  largest digital-currency exchanges in China sent a joint  letter to Benjamin Lawsky, superintendent of the New York Department of  Financial Services (NYDFS), last week, noting that the outcome of New York's  decision on Bitcoin will serve as a model for "regulators around the world."
  • Oberthur Acquires NagraID - Aug. 21, 2014
    Oberthur Acquires NagraIDFrench smart-card manufacturer Oberthur Technologies on Tuesday announced an acquisition that will enable the company to address card-not-present fraud, which is expected to surge as EMV chip payment cards replace magstripe cards.
  • Rumor: Braintree Exploring Bitcoin - Aug. 18, 2014

    Rumor: Braintree Exploring Bitcoin

    Published reports indicate Braintree, the online and mobile payments provider acquired by eBay last December, is in talks with bitcoin-acceptance providers that would enable the PayPal unit to process bitcoin transactions for its merchants.

  • Canadian Bitcoin Processor Nets $8.5 Million Round - Aug. 11, 2014

    Canadian Bitcoin Processor Nets $8.5 Million RoundVogogo, a Canadian e-commerce processor based in Calgary, said last week it has secured an $8.5 million round of financing that will enable it to expand its recent success in processing bitcoin and other cryptocurrencies in Canada to the U.S. and other countries around the world.

  • Twitter Continues to Test Payments - Aug. 11, 2014
    Twitter Continues to Test PaymentsIt appears Twitter’s plans to implement a payments function are continuing. Reports from multiple users indicate the presence of a “Payments and Shipping” option in the settings of Twitter’s Android mobile app.

Advertisement

 

 

Sign Up Today Free

Receive the twice weekly CNP Report and monthly feature articles providing in-depth examinations of global CNP issues.

Please take a moment and register.
* First Name:

* Last Name:

* Password:

* Confirm Pwd:

* Email:

* Category:

Company:

 
Captcha
Answer:

 

 

CNP Archive

Researching companies or people in the CNP industry? Search our past coverage for targeted news and information.

Search here