Displaying items by tag: Merchants

Nearly half of small and medium businesses in Australia (46 per cent) anticipate a decrease in turnover by the end of the year due to economic pressures, according to research from RFI Global, commissioned by Australia’s online small business lender Prospa.

COMPANY NEWS: FreedomPay, a leading global provider of integrated commerce solutions, announces the successful certification and official launch of EFTPOS Least Cost Routing on its market-leading PCI P2PE integrated payments platform in Australia. This milestone achievement enhances the capabilities of FreedomPay's platform, providing a seamless and cost-effective solution for both domestic and international merchants operating in the Australian market.

Open Banking payment technology provider Waave has announced a partnership with global payments orchestrator, Gr4vy, to introduce its Pay by Bank solution to major merchants.

Shopify and Google Cloud have announced a new integration that enables retailers to leverage Google-quality search capabilities and AI innovations.

Australian fintech start-up Till Payments has raised $70 million in its most recent funding round.

Open SaaS ecommerce platform BigCommerce has announced Multi-Storefront previously only available for enterprise merchants, is now available as a self-service feature and accessible to small and midsize BigCommerce merchants directly within their BigCommerce store.

GUEST OPINION by Tasneen Padiath, VP Sales & General Manager APAC at Riskified: With so many eCommerce platforms, marketplaces and digital solutions available, merchants have limitless opportunities to unlock the true potential of borderless commerce by selling to overseas buyers. The pandemic and resulting lockdown regulations have pushed merchants around the world to reimagine the possibilities of retail and take a serious look at the growing opportunities in overseas markets.

Australian consumers are overwhelmingly in favour of small businesses being given the ability to choose the cheapest option to process debit card payments through Least Cost Routing (LCR), according to new research by eftpos.

The competition regulator and enforcement agency the ACCC is seeking views on a court enforceable undertaking which has been offered by Industry Committee Administration (ICA), the company representing three Australian payment services providers seeking to merge.

Alibaba Cloud is the digital technology and intelligence backbone of the Alibaba Group, and has revealed the cutting-edge tech rolled out in support of the 2020 11.11 Global Shopping Festival, which included a massive amount of greener cloud-native computing power run on hyper-scale data centres, livestreaming, live translations, 3D virtual tools, virtual sales assistants and plenty more!

There has been a marked reduction in the level of fraud experienced by its merchant customers, according to the Commonwealth Bank, but despite the drop the bank has warned that small businesses must remain extra vigilant over the festive season.

eCommerce merchant losses to online payment fraud will exceed US$25 billion in 2024, up from just $17 billion in 2020, despite the ongoing implementation of Secure Customer Authentication (SCA) in Europe.

Chinese-based global payment terminals giant PAX Technology is launching its Android products into the Australian market next year.

Global revenue from payment platforms that enables merchants to process payments will grow from US$106 billion in 2019 to US$158 billion by 2024, according to Juniper Research.

Chinese tech giant Alibaba Group has unveiled its first AI inference chip developed by T-Head under the Alibaba DAMO Academy, an initiative it says will accelerate the speed of machine learning tasks – and lead technology development and scientific research.

Melbourne based Quest Payment Systems in conjunction with National Australia Bank and Visa, has launched a trial which allows merchants to accept card payments using their Android smartphone.

Michel van Aalten, Adyen country manager ANZ

According to the Australian Payments Network, payment fraud on Australian credit cards hit $476 million in 2017, surging from $218.1 million in 2016. As of 2018, online card fraud now accounts for 85 per cent of all card fraud in Australia.

Ecommerce vendor BigCommerce has ditched its IBM platform and completed the migration of its hosting infrastructure to Google Cloud.

One of Australia’s big four banks, the National Australia Bank, is backing a US$100 million capital raising by US-based ecommerce platform, Poynt.

Australian ecommerce and hosting solutions provider, eCorner, has signed a deal with Macquarie Cloud Services which it says will help it to stay competitive in the face of increasing competition from US ecommerce giants like Shopify.