Online retailers will lose more than $25 billion over payment fraud by 2024, a Juniper Research study found. This is an increase of 52% in four years. At this moment, losses over payment fraud are estimated $17 billion. Cause of this increase in payment fraud is the growing popularity of e-commerce in many markets. As online shopping becomes more popular, so does the use of
Alibaba Group buys small stake in Klarna
Ant Financial, an affiliate of Alibaba Group, takes a small take in Swedish payment service provider Klarna. Klarna is Europe's most valuable fintech company. With this acquisition, the two companies aim to strengthen their online shopping partnership. Klarna is already embedded in AliExpress, the international shopping platform which is run by e-commerce giant Alibaba
The Netherlands: 23% pays with smartphone or wearable
Mobile payments are becoming increasingly popular amongst Dutch consumers. Almost 25% of the Dutch pays wireless with a mobile phone or wearable such as a smartphone. This is the result of the ING Digital Monitor, a study conducted amongst more than 1500 Dutch. The introduction of Apple Pay in 2019 in the Netherlands makes it possible for a lot more people to pay with their
Thailand: expanding the cross-border payment system via QR codes
In a bid to bridge the gat between neighbouring countries, Thailand decided to leverage QR code technology to empower cross-border payment capabilities. QR - Quick Response - code technology is a solution within the financial landscape that innovates and promotes contactless, fast and secure payment capabilities via mobile apps to merchants and consumers. To realise this
E-commerce market India to surpass $91bn in 2023
Research conducted by GlobalData predicts that India's e-commerce market is set to surpass $91 billion in 2023. Overall, the transaction value of India's e-commerce market is projected to grow from $49 billion in 2019 (INR 3.4 trillion) to $91 billion in 2023 (INR 6.3 trillion). The research report 'India Cards & Payments: Opportunities and Risks to 2023' concludes that