All articles by Louise Naughton
Louise Naughton
Western Union launches in Japan
Payment services provider Western Union has partnered with Seven Bank to launch international money-transfer services in Japan.The service, due for launch later this month, will enable registered Seven Bank customers to send money online via their bank accounts.
E-invoicing fears for European businesses
Thousands of large European businesses are shying away from e-invoicing due to a perceived complexity and lack of standards, according to a study by information management firm Iron Mountain.Research conducted by research agency YouGovStone on behalf of Iron Mountain found that 40% of businesses across Europe are reluctant to implement e-invoicing.
HSBC issues web-OTP device
In a bid to ensure its customers stay one step ahead of online fraudsters, HSBC will provide all its online-banking customers with a device that creates a unique PIN code every time they log into their account. Unlike other approaches seen by rival UK banks such as Barclays, RBS and Nationwide, the HSBC Secure Key does not require a bank card to be inserted into the reader to obtain the one-time PIN.
Western Union launches SME FX m-payments
Payment services provider Western Union has launched a foreign exchange (FX) payment service enabling SME clients to make cross-border payments via their smartphone. The mobile payment solution allows users to pay their suppliers in 140 different currencies in global markets while locking in a currency-exchange rate and fee before transferring funds.
US e-commerce to reach $279bn by 2015
E-commerce in the US and Western Europe is predicted to see double-digit growth over the next five years and will reach $279bn and 134bn ($185.3bn) respectively by 2015, according to a forecast by research firm Forrester Research.The e-commerce market grew 18% from 2009 to 2010 in Western Europe and Forrester projects further growth of 13% from 2010 to 2011. It claims that growth rates will then level off as the market matures and buyer penetration slows.
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Still a high demand for cheques
Cheque usage in the UK may have plummeted by 40% over the last five years but recent figures from foreign exchange specialist Travelex have led it to claim that cheques are not as obsolete as many would like to believe. Travelex issued over 34,000 cheques to business across the UK in the last year and a survey conducted by The Cheque and Credit Clearing Company (CCCC) confirmed the popularity of the cheque.
Bottomline acquires Direct Debit
Invoice and document automation solutions provider Bottomline has acquired payments automation software provider Direct Debit to extend its global payments capabilities.The deal is said to improve Bottomlines inbound cash flow and reduce a companys days sales outstanding. This is expected to lead to lower financing costs and improved working capital management for customers.
Who are the innovators?
The verdict is in from the Global Innovation Jury, sponsored by e-payments solutions provider Ixaris, and the verdict is not good for established banks and card providers. Entrenched in existing systems and processes, they are generally followers rather than the leaders of innovation, writes Louise Naughton.
How low can you go?
With Google and Apple both launching micropayments solutions, and Paypal becoming an important player in financial services, processing low-value payments online is a major growth area. Louise Naughton looks at a new report that analyses micropayment payment processing and asks if a “silver bullet solution” really exists.
Ukash launches in Brazil…again
Online payments company Ukash has finally broken into the Brazilian market after it was forced to cease activity due to technical problems with issuing partners in the Latin American country last year. Brazilian consumers can now obtain vouchers from Ukashs Latin America website using local bank scheme Boleto Bancario. Upon registering online, they can order the voucher and retrieve it at thousands of locations nationwide.