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.
IBM and Visa announced the industry’s first collaboration which brings point of sale everywhere that Visa is accepted.
PayPal CEO Dan Schulman is attempting to make good on his promise to better serve the unbanked.
Amazon recently announced that over 33 million customers have used Amazon Payments to make a purchase.
The Co-operative Bank has put itself up for sale, seeking a buyer to take over the business.