Apple Pay processes $6 trillion annually
9 in 10 debit card purchases are now contactless
Boots launches online marketplace
Shopify warns merchants about Buy with Prime
Netflix bans crypto adverts
Cash App allows payments outside Square network
Bolt launches Checkout Links
Alibaba Lazada launches in Europe
Starling launches Bulk Payments
Apple Pay processes $6 trillion annually
Apple Pay processes $6 trillion annually, taking over Mastercard who process approximately $4.8 trillion. Visa still leads processing approximately $10 trillion worth of transactions per year.
9 in 10 debit card purchases are now contactless
According to data from Lloyds Bank, almost 9 in 10 in-person debit card purchases are now contactless. Spend on debit cards made in person using contactless technology has grown from 65% to 87% in the last three years.
Boots launches online marketplace
Boots launches an online marketplace. Boots Marketplace will launch Spring 2023 to give customers access to more brands and products and give suppliers of any size opportunity to reach Boots customers.
Shopify warns merchants about Buy with Prime
Spreedly has launched new Payments Orchestration solutions for merchant aggregators (platforms and marketplaces that onboard and serve individual merchants). Merchant aggregators must support a broad range of payment services and scenarios that their merchant partners demand and the new offering allows merchant aggregator customers to manage their payment flows.
Netflix bans crypto adverts
Netflix will ban crypto ads on their upcoming cheaper subscription tier in November (as well as ads on gambling and politics). The new tier will be more cost-effective but will also introduce unskippable ads at the beginning of each episode/movie.
Cash App allows payments outside Square network
Block’s Cash App is now letting users make payments on e-commerce sites outside the Square network. Until now, users could only make payments using Cash App Pay on Square terminals or online Square merchant partners. Users can either explore discounts and promotions offered by their partner brands (e.g. American Eagle, Aerie, Tommy Hilfiger, Finish Line and JD Sports) from the Cash App’s Discover tab or go to their website and select the Cash App Pay option at checkout. They can use Cash App credit or debit cards to pay for items they purchase.
Bolt launches Checkout Links
Bolt has launched Checkout Links to allow retailers to easily set up one-click checkout both in-store and online. Revolve will be one of their first customers – Bolt will power checkout for Revolve at their NY fashion week gallery, allowing shoppers to scan a QR code that immediately directs them to a checkout page for a one-click purchase. Checkout Links can also be used in physical shops, interactive signs, trade shows, and events, where users can simply scan a QR code to purchase items in one click.
Alibaba Lazada launches in Europe
Alibaba’s Lazada Group has announced it is preparing to launch into Europe. Bloomberg experts estimate that a European push for Lazada would mark a revival in Alibaba’s global efforts, which slowed in recent years in the face of competition from Amazon and Tencent.
Starling launches Bulk Payments
Starling launches Bulk Payments feature for small businesses which allows business banking customers to make bulk payments to multiple recipients. The new subscription service can be used to help support payroll, reimburse staff expenses or pay suppliers, all at the same time. The new feature is available to UK business customers with GBP accounts through Starling’s Online Banking platform for £7 a month. Customers simply add the feature to their subscriptions within the app, log into Online Banking and complete a template with recipients’ details.
ChatGPT has generated a lot of interest from across the business world, but what about its impact on payments? We hosted a great conversation with Matt Mills, Daniel Cronin and Tom Hay from Featurespace, Integrated Finance and PSE on their views on how it will affect payments industry. We touch on topics ranging from fraud and engineering and operations.
