Alto Global Processing: UK Payment Transactions Exceed 1 Billion a Month by Payments Journal


The UK Cards Association has announced that for the first time ever, the number of payment card transactions in the UK has
exceeded one billion a month for the first time. According to the industry body, consumers made 1.006 billion transactions using their debit and credit cards in August, up by 9.2% from August 2013.

Breaking down the data, the UK Cards Association announced that UK consumers in August made 774 million payments via debit cards and 232 million via credit cards which both represented an increase of nearly 10% from the year before. In terms of spending, overall debit card spending rose to £33.6 billion ($54.08) and spending on credit cards reached £13.7 ($22.05) billion which represent year-over-year growth of 7.9% and 4.3% respectively.

Commenting on the news, “A billion card transactions in a month is a major milestone and a clear indicator of the transformation in how we all spend. Rather than walking around with wads of notes or pockets full of coins, we’re increasingly choosing to use a card instead. With the rise in contactless transactions as a convenient way to make smaller payments, and online shopping too, its debit cards in particular that are leading the rise.”

With the macroeconomic conditions across Europe and the UK improving significantly, consumers are more willing to spend their hard earned income. While the UK has long been a mature payment card market, shifting preferences has seen consumers move to electronic payments over traditional payment instruments like cash more quickly. As a result, moving forward the volume and value of spending on electronic payment cards in the UK will only grow more rapidly.

This overview was written by Tristan Hugo-Webb, Associate Director, International Advisory Service for Mercator Advisory Group – See more at: http://www.paymentsjournal.com/Content/Featured_Stories/23411/?utm_medium=newsletter#sthash.UJ38JbnB.dpuf

Source: http://www.paymentsjournal.com/Content/Featured_Stories/23411/?utm_medium=newsletter

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Alto Global Processing: This New Tool Could Help Businesses Drive More Sales Through Instagram

By Carly Okyle (editorial assistant) for http://www.entrepreneur.com/

Imagine you’re on Instagram and you see a photo from Target of a new Fall blazer you just have to have. Well, now you can — and you don’t even have to switch apps.

Today, the visual analytics and marketing platform Curalate officially launched Like2Buy, a tool that allows brands to make their Instagram images “shoppable.”

It’s a bit more complex than it sounds: Instagram users that click on a company’s profile will see a link to a Like2Buy website. From there, a gallery of clickable photos will take shoppers directly to the ecommerce website.

While Like2Buy is intended to make an Internet user’s shopping experience more seamless, it also helps companies increase user engagement and make a stronger connection between social media and sales, which has been notably difficult for retailers.

Making the service part of Instagram will help give it a wider reach.According to Forrester, Instagram is the most engaging social network, with 58 times the engagement of Facebook and 120 times the engagement of Twitter. Target called Like2Buy “an Insta-game changer.”

Although the self-described “part store, magazine, and wishlist” Fancy created a similar product last year for the Google Glass interface, Curalate CEO Apu Gupta doesn’t view that as competition. “Fancy is a visual and social network that we can extend to at some point,” he said.

In addition to Nordstrom and Target, Curalate has more than 450 clients, which include retailers such as Charlotte Russe, Gap and Neiman Marcus. These companies have the option to participate with Like2Buy on their Instagram pages immediately, while non-clients can participate in the wider rollout which Gupta expects will happen within the next month. A free trial is also available to retailers at large, and those who choose to pay for Like2Buy as a standalone service will pay $1,000 per month. Clients will receive a discount, in accordance with the other Curalate services they use.

Source: http://www.entrepreneur.com/article/236914

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Alto Global Processing: E-Commerce to Hit $50 Billion by Year’s End Report By CardNotPresent.com

071414-Report-mCommerce-to-Hit-50-Billion-by-Years-EndMobile e-commerce sales in the U.S. will hit $50 billion by the end of this year, according to a new report. The May edition of the Custora Pulse, an e-commerce benchmarking effort by the online marketing firm Custora, said U.S. consumers spent $12.2 billion online using mobile devices in the first quarter of this year and estimated its 2014 total based on growth in the past four years. The Pulse reported that mobile e-commerce has grown nearly 2000 percent from $2.2 billion in 2010 to $42.8 billion last year.

Custora also found smartphones and tablets currently account for more than one-third of all visits to online stores from virtually none three years ago and that Apple devices still account for the majority of e-commerce sales, but the company’s share is eroding. Over the last two years, the share of orders originating on iPhones went from 75.1 percent in 2012 to 50.6 percent in Q1 2014. Samsung has been the beneficiary of most of that decrease, growing from 6.9 percent in 2012 to 30.5 percent in 2014.

 

Source: http://cardnotpresent.com/news/default.aspx?id=6055

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ALTO GLOBAL PROCESSING: Consumers Blame Merchants For Data Breaches

What’s Next In Payments®
7:15 AM EDT June 30th, 2014

With recent news of major security breaches involving retailers like Target and Sally Beauty populating media sites around the nation, merchants and issuers are likely wondering how this is affecting U.S. consumer behavior as a whole – and rethinking their own security strategies. Just how aware are consumers of these incidents, who are they putting at fault?

To get more insight on these questions, TSYS released an infographic titled “Consumer Insecurity About Data Insecurity,” highlighting the results of a survey conducted with more than 1,000 respondents.

WHO IS AWARE OF RECENT DATA SECURITY BREACHES?

About 83 percent of respondents said that they were aware of these incidents and 75 percent said they heard about them through media coverage.

WHO DO CONSUMERS HOLD RESPONSIBLE?

Consumers, about 64 percent, indicated that they held merchants responsible for these breaches, while 28 percent said the banks and card networks were at fault. However, 67 percent said they expected their banks and card networks to notify them when these incidents occur. And when it comes to making up for the damage and making the situation right, 61 percent of consumers said that it was up to the banks and card networks.

HOW ARE CONSUMERS RESPONDING?

Of those who responded to the TSYS survey, 88 percent said that consumers should play a role in protecting themselves against these breaches. Some, about 31 percent, said that they were willing to pay for added security features. In addition, half of the cardholders surveyed were interested in a specific four of these features.

Respondents who said they would switch banks for one that offered better security features totaled to 63 percent, and 71 percent said they’d switch banks for one that guaranteed all losses would be reimbursed.


Learn more about the study and get a prescription for issuer success in the TSYS white paper available in late July. 

Source: http://www.pymnts.com/news/2014/consumers-blame-merchants-for-data-breaches/#.U7F8zY1dWkY

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Alto Global Processing: Russia To Introduce National Payment Card

The Central Bank of Russia has revealed plans to launch a national payment card that will both rival Visa and Mastercard and create more choice for consumers, according to the country’s officials.

The card, which is the first of its kind in Russia, will use technical infrastructure provided by one of the country’s existing payment systems, with Sberbank’s Pro100 and Zolotaya Korona both being considered as partners. The latter, which means “Golden Crown”, was developed by the Centre of Financial Technologies Group, based in Russia. The chosen operator will clear payments made within Russia using the national card system, but the card will also be valid for payments abroad.

The move was welcomed by Russian Prime Minister Dmitry Medvedev as a way of giving Russian consumers more choice. However, it has also been interpreted as a reaction to financial sanctions imposed by the US over the Ukraine crisis, which led to Visa and Mastercard blocking card operations by Rossiya and SMP banks. Both institutions have been blacklisted by the Obama administration due to close ties between their key shareholders and Russian President Vladimir Putin. In addition to competition created by the national payment card, new rules mean that Visa and Mastercard will have to place collateral deposits into special accounts created at Russia’s Central Bank in order to continue operating in the country.

The national payment card system operator is undergoing state registration,” said Elvira Nabiullina, the Central Bank’s chief. “We have a roadmap for infrastructure development and the Central Bank has set up a commission composed of MPs, senators and government members for finding technological solutions.”

Source: http://www.paymenteye.com/2014/06/20/russia-to-introduce-national-payment-card/?utm_source=PaymentEye+Daily+Newsletter&utm_campaign=bf9e1621ce-20_06_2014&utm_medium=email&utm_term=0_3bd2a3a3c5-bf9e1621ce-14476705

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Safari In iOS 8 Uses Camera To Scan and Enter Credit Card Info by JORDAN KAHN of 9to5mac.com

In iOS 8, Apple has a new feature in Safari that allows users to scan a credit card with the device’s camera rather than manually entering the number when making a purchase online.

When entering a credit card number into a form online to, for example, make a purchase, Safari already allowed users to quickly select credit cards stored in its Passwords & AutoFill settings. You can still do that, but in iOS 8 you’ll now also have the option to select “Scan Credit Card” and snap a picture of the card. Apple then uses optical character recognition of sorts to input the number into the text field in Safari. There’s also a way to scan and save cards using the camera directly from within the Passwords & AutoFill settings.

Website developers don’t have to do anything to enable the feature, as Safari appears to automatically detect when a credit card number is being requested and presents the option to scan above the keypad.

Written by:   @JordanKahn for http://9to5mac.com

Source: http://9to5mac.com/2014/06/05/safari-in-ios-8-uses-camera-to-scan-and-enter-credit-card-info/

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Alto Global Processing: DISH Network Becomes Largest Company Accepting Bitcoin

alto global processing dish network card not present DISH Network said this morning it will begin accepting bitcoin payments. Bitcoin processor Coinbase confirmed its role as DISH’s processor in a short post on the company’s corporate blog. The satellite- TV service said it would accept the digital currency as payment beginning Q3 this year. DISH said it is the largest company so far that accepts bitcoin as payment, and the first subscription-based TV provider.

While Bitcoin had a run of negative publicity in February and March, the ship seems to have righted itself over the past few weeks. Investors remain optimistic, the regulatory environment is beginning to become clearer and a recent study said Bitcoin will become more prominent in the U.S. as an alternative to credit cards online. And, last week, Bitnet, a new company touting deep experience in the traditional payments industry, officially launched at the CNP Expo in Orlando, Fla.

DISH displaces retailer Overstock.com, which began accepting bitcoin payments in January, as the most prominent company to accept the cryptocurrency.

“We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills,” said Bernie Han, COO of DISH. “Bitcoin is becoming a preferred way for some people to transact, and we want to accommodate those individuals.”

Source: http://cardnotpresent.com/news/cnp-news-may14/DISH_Network_Becomes_Largest_Company_Accepting_Bitcoin_-_May_29,_2014/

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