E-Commerce

By Peter Lucas @DTPaymentNews With the launch of its Prime Reload rewards service, Amazon.com Inc. has positioned itself to deal a serious blow to bank card issuers’ revenues earned from interchange on Amazon.com purchases, and limit the visibility banks have into their cardholders’ behavior on the e-commerce giant’s Web site. …

First Data Corp. is hoping that its scale—it says it processes more than 2,800 transactions per second coming from more than 6 million merchants—will give its new Fraud Detect service an edge in thwarting fraudulent transactions. Announced Thursday, Fraud Detect uses artificial intelligence and machine learning, fraud scoring, cybersecurity intelligence, …

Merchants’ actual fraud costs are up for the third year in a row and their total fraud-related expenses also are rising, according to the latest True Cost of Fraud study from LexisNexis Risk Solutions. Fraud as a percentage of the revenues reported by the 653 retailer risk-control executives surveyed for …

With e-commerce taking an ever-greater share of total retail sales and mobile commerce accounting for an ever-greater share of e-commerce, merchants need to start treating m-commerce fraud control as more than a subset of online fraud control. That was the word Tuesday from Susan Pandy, the director of payment strategies …

TransferWise started out as an upstart processor enabling international remittances, but now it’s expanding into a much bigger arena. On Tuesday, it announced the availability of virtual accounts that let small businesses pay and receive payments internationally as if they had a local account. The service, called Borderless Account, covers …

The payments industry is going to have to make some changes to ensure the long-term success of digital consumer-to-business payments. U.S. digital sales are thriving, and consumer demand will only continue to grow. According to a report from the U.S. Department of Commerce, U.S. online retail sales nearly quadrupled in …

Remember the Pokémon GO craze? The game was a megahit because it cleverly combined the physical and digital worlds. It added an augmented contextual layer so players could use smart-phone map and camera functions to interact with characters, other players, and game elements. What if a similar augmentation toolkit were available …

Shareholders of MoneyGram International Inc. voted overwhelmingly in favor of Ant Financial Services Group’s planned $1.2 billion acquisition of their company, Dallas-based MoneyGram announced Tuesday. A preliminary tally shows 97% of the shares voted were in favor of the deal and represented more than 82% of all outstanding shares, MoneyGram …

• Visa Inc. announced that its 3-D Secure 2.0 program will begin in April 2019. 3-D Secure 2.0 is a measure managed by EMVCo that shares e-commerce transaction data between merchants and issuers in an effort to thwart fraudulent transactions and approve valid ones. EMVCo released the updated spec in October 2016. • Visa said grocer …

Online merchants looking to increase their sales volume may want to consider offering instant financing. A study by Researchscape International reveals that 75% of respondents would be more likely to purchase from an online retailer that offers instant financing than one that does not. Another 28% said they would be …