Cyber Monday Sets New Online Shopping Record with $12.4 Billion in Sales
Nov28

Cyber Monday Sets New Online Shopping Record with $12.4 Billion in Sales

Cyber Monday in the U.S. has set a new online shopping record, with sales reaching an impressive $12.4 billion, a 9.6% increase from the previous year. Despite cautious forecasts from retailers anticipating inflation-constrained budgets, enticing discounts across various categories drove consumers to splurge on Christmas purchases. Peak discounts of 31% in electronics and 23% in apparel, along with increased adoption of Buy Now, Pay...

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Visa and Tencent Forge Alliance to Transform Cross-Border Remittances for Weixin Users
Nov17

Visa and Tencent Forge Alliance to Transform Cross-Border Remittances for Weixin Users

Visa has partnered with Tencent Financial Technology to facilitate inbound remittances for Weixin users in Mainland China, extending the reach of the Visa Direct network to over one billion users. This collaboration caters to the growing demand for seamless cross-border transactions, leveraging digital wallets and enhancing convenience and security for users and businesses. 17 November 2023 – Visa, a global leader in digital...

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Survey Reveals Budget Consciousness as Key Driver of Online Cart Abandonment
Nov17

Survey Reveals Budget Consciousness as Key Driver of Online Cart Abandonment

A YouGov survey commissioned by commercetools reveals that budget-consciousness prompts online shoppers to abandon their carts, with shipping costs and the search for better deals cited as the top reasons. The study underscores the significance of financial considerations across income ranges, with recommendations for retailers to invest in technology, loyalty programs, and personalized experiences to combat cart abandonment during...

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South Korea’s Online Shopping Soars in September Fueled by Travel and E-Coupon Services
Nov04

South Korea’s Online Shopping Soars in September Fueled by Travel and E-Coupon Services

South Korea’s online shopping sector saw a remarkable 9.6% growth in September, with strong demand for travel, e-coupon services, and food contributing to the surge. The data revealed significant increases in online transactions for these categories, with mobile shopping through smartphones also on the rise, indicating changing consumer preferences and the continued growth of e-commerce in the country. 4 November 2023 –...

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Mastercard’s Report Reveals Cross-Border Payment Challenges Amidst Rising Demand for Global Work
Nov01

Mastercard’s Report Reveals Cross-Border Payment Challenges Amidst Rising Demand for Global Work

Mastercard’s 2023 borderless payments report highlights the increasing demand for cross-border payments driven by a growing number of people considering working abroad. However, the report also reveals challenges such as late or failed payments, fraud risk, and difficulties in supporting in-country payments for both consumers and small businesses. 1 November 2023 – Mastercard’s 2023 borderless payments report sheds...

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Visa Pilots Visa AR Manager to Revolutionize Virtual Card Acceptance for Commercial Businesses
Oct23

Visa Pilots Visa AR Manager to Revolutionize Virtual Card Acceptance for Commercial Businesses

Visa is launching a pilot of Visa AR Manager, an innovative solution designed to streamline virtual card acceptance for commercial merchants. This new offering automates the virtual card transaction process, enhancing efficiency and reducing manual efforts, ultimately providing a seamless digital payment experience for issuers and suppliers in the commercial B2B sector. 23 October 2023 – Visa, a global leader in payments, has...

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Visa Commits $100 Million to Shape the Future of Commerce with Generative AI Ventures Initiative
Oct13

Visa Commits $100 Million to Shape the Future of Commerce with Generative AI Ventures Initiative

Visa unveils a $100 million Generative AI Ventures initiative to invest in the development of generative AI technologies and applications set to revolutionize the future of commerce and payments. The initiative, spearheaded by Visa Ventures, builds upon Visa’s legacy of pioneering AI in payments and aims to support innovative startups at the intersection of generative AI, commerce, and payments. 13 October 2023 – Visa, a...

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Visa Strengthens Cybersecurity Offerings Through Partnership with Expel
Oct13

Visa Strengthens Cybersecurity Offerings Through Partnership with Expel

Visa partners with Expel to bolster cybersecurity offerings in response to rising global cybercrime costs, allowing clients to proactively manage cyber risks and enhance fraud defenses. 13 October 2023 – Global payment giant Visa has announced a strategic collaboration with leading security operations provider, Expel. The partnership seeks to expand Visa’s Value-Added Services portfolio by venturing into the Managed...

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Visa’s Fall 2023 Threats Report: AI-Powered Phishing and Ransomware Surge Amidst Global Anti-Fraud Efforts
Sep08

Visa’s Fall 2023 Threats Report: AI-Powered Phishing and Ransomware Surge Amidst Global Anti-Fraud Efforts

Visa’s Fall 2023 Biannual Threats Report reveals growing threats in the form of AI-powered phishing, enumeration attacks, and ransomware, despite a lower-than-expected overall global fraud rate. Visa proactively blocked $30 billion in potential fraud during the reporting period. 8 September 2023 – Visa Inc., a globally recognized leader in digital payments, has released its Biannual Threats Report for Fall 2023, shedding...

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Allianz Report Reveals Challenges and Resilience in the Semiconductor Industry
Sep06

Allianz Report Reveals Challenges and Resilience in the Semiconductor Industry

The electronics sector, with a specific focus on the semiconductor market, is facing a significant decline in 2023 after a period of exceptional growth, according to Allianz Trade in Asia Pacific’s latest report. Factors contributing to this decline include weakened consumer electronics sales, inventory surpluses, and ongoing geopolitical tensions. 6 September 2023 – In its latest sector outlook report, Allianz Trade in...

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