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Retail banking IT spend to hit $118.6bn in 2013 according to Ovum

/E-commerce

Retail banking IT spend to hit $118.6bn in 2013 according to Ovum

IT spending will grow by 3.4 percent at global retail banks reaching US$118.6bn in 2013. The Ovum Business Trends report also finds that European banks are lagging behind their North American and Asia-Pacific counterparts, with just 1.8 percent growth expected, compared to 3.3 percent and 5.1 percent, respectively.

ECB seeks to improve online payments security

/E-commerce

ECB seeks to improve online payments security

The European Central Bank has outlined plans to improve the security of Internet payments, requiring firms to beef up their customer authentication processes.

US retailers get option to add credit card surcharge

/E-commerce

US retailers get option to add credit card surcharge

Shoppers in 40 US states could see a surcharge of up to four per cent added to their credit card purchases from this week.

Facebook commerce outfit Payvment shuts down

/E-commerce

Facebook commerce outfit Payvment shuts down

Social commerce outfit Payvment is shutting down its platform and offloading its 200,000 Facebook merchant customers to rival Ecwid.

Soaring mobile commerce and payments volumes boost eBay

/E-commerce

Soaring mobile commerce and payments volumes boost eBay

EBay says fourth quarter results beat analysts' forecasts, boosted by a dramatic rise in the use of mobile phones to access its online auction house and PayPal service.

US mobile payments to hit $90bn in 2017 - Forrester

/E-commerce

US mobile payments to hit $90bn in 2017 - Forrester

The value of US mobile payments is set to soar over the next few years, from $12.8 billion in 2012 to $90 billion in 2017, according to research house Forrester.

With online spending soaring, Visa Europe targets mobile in 2013

/E-commerce

With online spending soaring, Visa Europe targets mobile in 2013

Following the dramatic rise of e-commerce, which now accounts for 20% of all spending on its cards, Visa Europe is turning its attention to the mobile phone, predicting that a third of Europeans will be using its V.me digital wallet by 2020.

Sberbank takes majority stake in Yandex.Money

/E-commerce

Sberbank takes majority stake in Yandex.Money

Russia's Sberbank is to spend $60 million for a majority stake in Yandex.Money, the online payment business of Russian search engine Yandex.

EBA Clearing lines up 11 banks for MyBank launch

/E-commerce

EBA Clearing lines up 11 banks for MyBank launch

Eleven financial institutions from Italy, France and Luxembourg are lined up to participate in the live launch of MyBank, a new online payments service from EBA Clearing which will open for business on 25 March 2013.

PayPal launches pre-paid cash card

/E-commerce

PayPal launches pre-paid cash card

PayPal has launched a 'pre-paid cash card' that Americans can buy in-store and use to top up their accounts for online purchases.

Citi consumer marketing and Internet chief quits for e-commerce site

/E-commerce

Citi consumer marketing and Internet chief quits for e-commerce site

Citigroup's global consumer chief marketing and Internet officer Michelle Peluso has jumped ship to become CEO of online retailer Gilt.

Student convicted over Anonymous PayPal attack

/E-commerce

Student convicted over Anonymous PayPal attack

A British student has been convicted for his part in a series of DDoS attacks carried out by the Anonymous collective against major firms, including PayPal.

PayPal mobile shopping volumes scale new heights

/E-commerce

PayPal mobile shopping volumes scale new heights

PayPal experienced its biggest ever mobile shopping day on Sunday, exceeding the previous record set on Cyber Monday a week earlier.

RBS becomes first UK bank to back Visa V.me wallet

/E-commerce

RBS becomes first UK bank to back Visa V.me wallet

The Royal Bank of Scotland has become the UK's first financial institution to begin trialling Visa's V.me digital wallet.

MasterCard and Absa launch dual debit-credit card with built-in display

/E-commerce

MasterCard and Absa launch dual debit-credit card with built-in display

South Africa's Absa and MasterCard have unveiled a dual contactless debit and credit card which also includes a display screen for passcodes that secure online payments.

Danish telcos join forces on mobile payments

/E-commerce

Danish telcos join forces on mobile payments

Denmark's four network operators have set up a company to develop a common platform for mobile payments in the country.

Mega Monday: UK Christmas shoppers set for busiest e-commerce day in history

/E-commerce

Mega Monday: UK Christmas shoppers set for busiest e-commerce day in history

'Mega Monday' - 3 December - will be the UK's biggest online shopping day in history, predicts Visa Europe, which expects to see £320 million spent on its cards alone.

Worldwide mobile payments volume to hit $1 trillion by 2017 - IDC

/E-commerce

Worldwide mobile payments volume to hit $1 trillion by 2017 - IDC

More than a trillion dollars will be spent around the world using mobile devices by 2017, according to IDC Financial Insights, although this will still represent only a drop in the commerce ocean.

Pocket money goes digital with pre-paid card for eight-year olds

/E-commerce

Pocket money goes digital with pre-paid card for eight-year olds

A British start-up is encouraging parents to ditch cash and take pocket money into the digital age, offering pre-paid cards to children as young as eight which can be used online, in-store and at ATMs.

Visa signs 50 US financial institutions to digital wallet

/E-commerce

Visa signs 50 US financial institutions to digital wallet

As Christmas approaches, Visa has signed up another 50 US financial institutions to its V.me digital wallet service, designed to make online shopping simpler.

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