The Visa Ready Partner Program is designed to help device manufacturers, mobile networks and other partners to gain access to Visa intellectual property and licenses, including APIs and SDK’s for mobile point-of-sale payments.
New figures from the British Retail Consortium (BRC) paint a rather gloomy picture for struggling retailers across the country. Total retail footfall in January was 4.6 percent lower than a year ago, the weakest footfall figure since April 2012, when numbers declined 6.9 percent.
Mobile payments are slowly but surely going mainstream. Mass adoption of smartphones and tablets is making the dream of fully digital wallets a reality and it is opening new possibilities for traditional banks, credit card companies and net-based payment services.
A total of 10,000 interactive panels will be installed at bus stops and other roadside locations, NFC World reports.
Retail e-commerce is still growing, in spite of economic volatility and a host of other concerns. According to comScore, 2012 was a record year for e-commerce outfits in the US. No doubt it will have a trickle down effect here in Europe.
Total e-commerce sales amounted to $186.2 billion and a quarterly breakdown shows that Q1 2012 was the fastest quarter, with year-on-year growth of 17 percent. Growth in the second and third quarters hit 15 percent and it slowed down to 14 percent in the holiday quarter.
On the whole, E-commerce spending saw double digit growth for the last nine consecutive quarters. Sales in Q4 2012 hit $56.8 billion, an absolute record, despite the fact that it fell somewhat short of expectations.
“2012 was a year in which – for the most part – e-commerce continued to grow strongly, despite an uneven macroeconomic environment showing signs of recovery but also cause for continued concern,” comScore chairman Gian Fulgoni said in a statement. “With e-commerce growth rates consistently in the mid-teens throughout the year, it is clear that the online channel has won over the American consumer and will increasingly be relied upon to deliver on the dimensions of lower price, convenience and selection.”
The fourth quarter was also the first time e-commerce spending reached 10 percent of total US retail spending, excluding food, gas and auto sales. The top performing product categories in Q4 were digital content and subscriptions, consumer electronics, toys and hobbies, apparel and accessories, followed by books and magazines. Each category grew at least 15 percent compared to 2011.
Google is continuously trying to improve its e-commerce business and its latest acquisition should give it a nudge in the right direction. The search giant bought e-commerce solution provider Channel Intelligence for $125 million in an all-cash deal.
Channel Intelligence is active in 31 countries and it offers a wide range of e-commerce services.
The company has been a partner of Google Shopping for years and the two outfits worked together on Return on Ad Spend (ROAS) and Product Listing Ads (PLA) products. In addition, Channel Intelligence offers a range of free services, including Facebook integration and product search widgets and an e-commerce back end, dubbed Shopping Engine.
Channel Intelligence announced the deal on its website, adding that all of its services will be available for years to come. The company has been around since 1999 and it tracks about 15 percent of all online transactions in the US. It is behind $2 billion in sales through referrals every year.
ICG group announced Wednesday that the transaction should be finalized in the first quarter of 2013. ICG is expected to realize $60.5 million in connection with the transaction.
“Building upon the perseverance and strong foundation laid by CI’s founder Rob Wight, I am extremely proud of the work we accomplished at CI,” said Doug Alexander, CEO of CI and President of ICG. “With the talent and hard work of the entire CI team, we successfully navigated a very complex marketplace, ending a record year that culminated in this very exciting acquisition.”
Wright said he is thrilled to see the recognition of CI’s value. He said the company’s vision was to simplify the online shopping experience and that he is very proud to see the vision executed to such a “great outcome.”
According to a report compiled by Research2Guidance.com, the vast majority of mobile shops made less than 5 percent of their total e-commerce revenue via the mobile channel.