October 18, 2016
• Mobile e-commerce grew 60% last year to reach $120 billion, with 70% of that total coming through browsers (50%) and apps (20%) accessed via smart phones, according to a new report from Javelin Strategy & Research.
• Routine usage of mobile devices to make payments remains flat with last year at 19% of consumers, with cash and cards remaining the most popular payment methods, according to a survey of 4,000 of consumers by Accenture.
• Intuit Inc. is leveraging Apple Pay's new Web-based availability to allow users of it QuickBooks Online accounting program to offer Apple Pay as a payment option on invoices for customers using the Safari browser.
• USA Technologies Inc., which is nearing completion of a conversion of more than 1,000 Burch Food Service vending machines to card-based and contactless mobile payment, including Apple Pay and Android Pay, said Burch reported a 17% increase in dollar volume on the machines in the year ended in June.
• Cross-border payments company PayCommerce said it raised $22 million in Series B funding. It also named Max Narro, a former Worldpay, Fiserv, and First Data executive as chief executive.
• Pay By Group, whose technology allows mobile and desktop users to split the cost of any transaction with friends or family, announced a $3.4 million funding round led by SparkLabs Global Ventures. The startup, which mostly handles group payments for vacation rentals, says it differs from existing cost-splitting apps by allowing each person to pay his share directly, avoiding the need for a single person to front the cost and then collect from others.
• Payment gateway Shift4 Corp. announced it received EMV certification from processor Elavon, a unit of U.S. Bancorp.
• Point-of-sale terminal maker VeriFone Systems Inc. announced it and several other companies have developed a mobile API standard for mobile commerce at gas stations and convenience stores.
• Online fashion retailer Rue La La is offering local shopping in 219 countries and territories using the Borderfree Retail product from Pitney Bowes, which handles payments, deliveries, and other functions.
SPECIAL FEATURERead Digital Transactions Online