Vietin Bank has chosen global payments solutions provider, Yalamanchili to provide the payment processing software behind its recently launched prepaid card, which, for the first time, enables consumers and businesses in Vietnam to make secure online purchases from any website that accepts Visa. Read more
According to All Things D, Walmart CEO Mike Duke has announced that the company’s eCommerce sales are expected to hit USD10bn this fiscal year. The comment was made at Walmart’s shareholder meeting last Friday.
Although this figure represents a small portion of overall sales – which totalled USD469bn in 2012 – the number has been boosted by the company’s purchase of Chinese online retailer Yihaodian. Initial eCommerce predictions were around the USD9bn mark.
The company’s acquisitions and strategic focus on eCommerce conveys the growing onus retailers are placing on this revenue channel.
Visa has announced that it has signed agreements with three leading mobile point-of-sale (mPOS) providers to enable merchants of all sizes to accept Visa payments using mobile technology. iZettle, SumUp and SCCP Group’s Swiff, will participate in the Visa Ready Program to have their mobile acceptance hardware and software tested and approved for use with Visa payments. Read more
Square has launched a new feature that will let anyone send cash to anyone else’s debit card.
The new Square Cash service, which is currently invite-only, seems to bring the mobile payments company a little closer to PayPal’s core offering. A video for the service suggests that anyone using it can send money simply by using the recipient’s e-mail address. Read more
EMV or what is commonly referred to as “Chip and PIN,” has been adopted by the major card networks as the technology standard to reduce counterfeit and lost or stolen card transactions. EMV has been adopted in most all global markets by issuers and acquirers.