National Retail Federation SVP David French told the House Judiciary Committee in a letter this week that legislation is needed to level the playing field between local retailers and out-of-state competitors, as the NRF continues to push Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes.
MasterCard and Visa have teamed up to form a new cross-industry group focused on enhancing payment system security to keep pace with the expectations of consumers, retailers and financial institutions.
MasterCard and Syniverse are partnering to deliver a number of mobile and payment services for consumers to use when traveling abroad. The two companies are currently in pilot-phase for an opt-in service that will enable card transactions for users only when they have their mobile device switched on in a specific geolocation abroad.
MasterCard has unveiled MasterPass in-app payments, enabling consumers to make secure purchases within a mobile app. MasterPass in-app payments eliminate the need to store payment card credentials across numerous mobile apps, providing consumers with a fast and simple payment experience.
Groupon is offering last-minute holiday shoppers Grouponvelope and a digital gift voucher. With these new options, Groupon lets local merchants who do not have a gift card program reach customers who are looking for last-minute holiday gift ideas.
Sales of gift cards in 2013 are expected to surpass $118 billion in sales, an 8% increase from 2012. CEB Tower Report research suggests that the widespread adoption of e-gifting, which experienced rapid growth from $300 million in 2012 to a predicted $3 billion in 2013, will provide scale for continued industry gains through 2016.
Vantiv, a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, has named former PayPal and Visa executive Daniela Mielke as the company's chief strategy officer.
Virtual Piggy initiated a consumer acquisition campaign to start building its subscriber base. Throughout the past four months, Virtual Piggy has added more than 400,000 new accounts most of which are based in the U.S. and some which were recently added in Canada.
Americans are going to stretch their budgets and spend a little more on dad this year, according to NRF’s 2013 Father’s Day spending survey conducted by BIGinsight. The average person is expected to shell out $119.84 on gifts this year, an increase of 2% from $117.14 last year.
CardinalCommerce and Unbound Commerce have rolled out a cloud wallet service for online merchants. The cloud wallet service from Unbound Commerce scheduled for release in July leverages Universal Wallet APITM from Cardinal to offer a single point connection to several leading digital wallets.
SecureNet Payment Systems, an innovative payment technology company directly connected to the major card networks, announced the company has exceeded $19 billion in annual transaction volume and increased its number of merchant partners to over 16,000.