Alternative payments only account for a small proportion of ecommerce transactions in the US and UK, however methods such as e-wallets, direct debits and cash on delivery continue to show strong growth in other regions.
Therefore it’s a feature that businesses can't ignore, particularly at a time when many e-tailers are seeking to expand into international markets.
A new report from WorldPay highlights the way in which the use of alternative payments (AP) differs across global markets, with PayPal shown to be the most popular AP method globally, though Chinese companies Alipay and Tenpay are also popular and growing at a faster rate.
It’s estimated that alternative payments accounted for 43% of all online transactions in 2012, a figure that is predicted to rise to 59% by 2017 (though predictions should always be treated with some scepticism).
2014 feels like a significant year for the mobile wallet.
Perhaps before long we'll all be more comfortable 'buying with Google' on mobile websites and apps.
The payment industry itself seems to be shaping up for a leap forward, with its leading conference opting for a rebrand. After 15 years as the Mobile Financial Services & NFC Summit the event has been renamed as the Mobile Wallet & Retail Innovation event in 2014.
This change reflects the slow clarification of what has been a bit of a curate’s egg until now. Confusion around NFC and smartphone hardware, as well as just what it is that the consumer wants, has distracted from exciting potential of the mobile wallet as a tool to buy on mobile websites.
In 2013, merchant-specific payment apps were arguably more successful than broader mobile payment solutions. The Starbucks app is regularly cited as one of the biggest successes thus far, used for 10% of all transactions and providing the customer with an experience enhanced by rewards. The point being, the customer wants more than just quicker payment.
Only 13% of consumers would be happy to store their credit card details on their smartphone, according to a new survey from The Logic Group.
The report again highlights the consumer mistrust of mobile technology, as only 30% of consumers trust major retailers to keep their personal information safe.
This is potentially a huge problem for online retailers as offering to store card details is seen as a way of improving the mobile checkout process and encouraging repeat purchases.
Furthermore, only a third of consumers said that they would be happy for their mobile to house their loyalty cards.
Being the 800 pound gorilla of online payments isn't easy. Despite PayPal's ubiquity and the fact that it remains at the forefront of digital payments, including in the rapidly-evolving mobile payments space, the company's reputation is mixed.
Serving millions upon millions of customers isn't a walk in the park, and when something goes wrong with somebody's money, the world is bound to hear about it one way or another.
eBay has been testing a new mobile app called eBay Now that allows shoppers to order from local stores and have their packages delivered to their door in as little as an hour.
Through this new app, shoppers in San Francisco and New York City (Manhattan up to 125th street and select parts of Brooklyn) can purchase items from more than 200 participating stores, including Macy’s, Home Depot, Target, Toys R Us, RadioShack, Walgreens, and Office Depot.
Customer service is an area of focus for many companies today, and for good reason. Thanks to the rise of social media, when a company pisses a customer off, they have the ability to tell the world.
That's precisely what Andy McMillan did when he found himself in "Paypal hell."
Industry observers and analysts have been predicting that mobile commerce would have a bright future for nearly a decade, but it wasn't until recently that those predictions started to look like they might be accurate, if still poorly timed.
The latest source of confirmation that mobile commerce is real: eBay's CEO John Donahoe.
With upstarts like Square trying to disrupt the payments space, often using technologies that interoperate with consumer devices like the iPad, it's no surprise that larger entrenched players are fighting back with similar offerings.
Point-of-sale giant VeriFone, for instance, is positioning itself to be the Switzerland of payment solutions, and PayPal is making a big offline push with physical retailers and card readers for smaller businesses.
PayPal is one of the web's most recognizable brands, and it's no spring chicken. But that doesn't mean that there isn't room for a makeover.
Yesterday, the online payments giant announced a website redesign that will be rolling out to PayPal users in the United States in the coming weeks.
PayPal may already be ubiquitous on the web, but the payments giant has its sights set on much bigger fish offline.
In an effort to bring PayPal purchasing to the masses wherever they shop, the company yesterday announced pacts with 15 major retailers in the United States that will give consumers the ability to pay for their purchases using PayPal.