Online retail spending in the US was valued at USD43.2 billion for the second quarter, an increase of 15% compared to last year according to comScore’s Q2 2012 report. The report shows that e-commerce in the US is seeing its eleventh consecutive quarter of growth, but comScore chairman Gian Fulgoni remains cautious for the remainder of 2012.
“Although e-commerce remains strong, we are taking a cautious view of the second half of the year in light of some renewed signs of economic uncertainty and a stubbornly high unemployment rate,” he says.
In addition, the report indicated that 42% of e-commerce transactions included free shipping with the top-performing online product categories including computer hardware, apparel and accessories and digital content and subscriptions growing at least 16% in comparison to 2011.
In another big deal for the global payments industry this week, credit card firm Visa has inked a partnership with digital payments processor PayPal.
The five fintech startups joining credit card company’s Capital One’s new fintech accelerator in Nottingham have been named, including Credit Kudos, Multisense, Pariti, Warwick Analytics and WealRo.
Europe continues to see rapid adoption of emerging payment technologies as consumers in digitally savvy countries like Sweden and the UK continue to drive adoption of methods like contactless across the region. In our latest infographic we take a look at what the latest numbers tell us about the evolution of payments in the region and what they tell us about the future of cash, cards and contactless.
According to new research commissioned by global payments provider TNS, more than a quarter (28%) of people aged 25 to 34 have already made a biometric payment, and are leading the way in the take up of this new technology.