Retail News CRM

Tag: WorldPay

  • Worldpay announces Australasian expansion

    Worldpay announces Australasian expansion

    Worldpay, a global leader in payment technology, has announced major investment in Australasia for 2019. The first is the opening of two sales offices in Australia; the second is the expansion of its global footprint to New Zealand after obtaining a local licence for acquiring card payments. These regional investments will enable Worldpay to serve its Australasian clients through an enhanced market presence and in-country payment processing.

    This regional investment builds upon Worldpay’s commitment to the region, having been one of the first non-banking technology providers to launch a domestic acquiring licence in Australia in 2016. Worldpay’s new offices will be located in Melbourne and Sydney, with Sydney acting as the country headquarters. The new sites will not only help to better serve existing clients with rich payments expertise, solutions consulting and on-the-ground account management, but also deliver on Worldpay’s ambitious plans to boost its client roster, which already includes VGW, Skiddoo, Lonely Planet, Webjet, and Supernova, the owner of Sand & Sky, Coco & Eve, BodyBoss and SkinnyMint.

    eCommerce in Australia is expected to grow by more than 37 percent over the next three years to be worth almost US$40bn by 2022, with New Zealand also experiencing high levels of eCommerce growth. The buoyant market conditions have attracted a number of global brands to the region, giving shoppers more choice and have increased retailer competition for consumer spending. With 20 percent of consumers in Australia and New Zealand shopping via mobile every month, smartphone penetration alongside more frictionless payment methods offered by digital wallets could open new opportunities for retailers to differentiate their offering and grow mobile commerce.

    Phil Pomford, General Manager, Global Enterprise eCommerce, APAC at Worldpay: “Australasia is an exciting region with lots of growth potential, but also its own unique set of challenges. By building a team of payments experts located in Australia, alongside the addition of a domestic card payment acquiring capability in New Zealand, Worldpay can offer a service that goes beyond the transactional. Our investment and addition of this new licence will enable us to further provide unparalleled access to global markets to help eCommerce businesses deliver on their international growth ambitions.”

    The New Zealand card payment processing licence will allow Worldpay to process transactions domestically for merchants trading in New Zealand. This new licence means the global payments leader is one of a few providers to offer domestic acquiring capabilities in the country. It will also make it easier for New Zealand-based firms to trade with the rest of the world, creating a seamless payment experience for both domestic and international clients.

    Pomford continued, “While there’s a lot of competition from traditional providers, Worldpay can offer something different. We’re already helping thousands of multi-national companies around the globe to drive sales, gain better data insights and enter new markets at scale. With our Australasian expansion, we want to show businesses in Australia and New Zealand that we’re the technology partner of choice to help them grow, and go global.”

     

    Domestic acquiring in New Zealand will be available in Q2 2019.

    Lees ook:

  • FIS to merge with Worldpay

    FIS to merge with Worldpay

    FIS and Worldpay have arranged to merge to bolster their combined financial services portfolio

    Upon closing, the combined company is expected to be better positioned to offer enterprise banking, payments, capital markets, and global eCommerce capabilities empowering financial institutions and businesses worldwide.

    The combination is expected to expand FIS’ capabilities by enhancing its acquiring and payment offerings while increasing Worldpay’s distribution footprint by accelerating its entry into new geographies.

    FIS and Worldpay solutions and services encompass financial institution issuer services, network and merchant services including global leadership in eCommerce, as well as loyalty and fraud solutions benefiting consumers and businesses. Clients are expected to benefit from the combined omnichannel payment and multi-currency capabilities, robust risk, and fraud solutions and advanced data analytics.

    “Scale matters in our rapidly changing industry,” stated FIS chairman, president and CEO Gary Norcross said.

    “Upon closing later this year, our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions. As a combined organization, we will bring the most modern solutions targeted at the highest growth markets.”

    “Combining with FIS helps us accelerate the achievement of that, now benefiting from new scale and capabilities that will truly differentiate the company globally,” Worldpay CEO And executive chairman Charles Drucker said.

    The merger has drawn mixed reactions from commentators. Barron’s Robert Teitelman questions what Worldpay is number one at: “How do you judge solutions sets, global communities and client focus? Define personalization. And then there’s the accelerating future! Either Norcross is trying to obscure how these two companies fit together in a complicated jigsaw puzzle, or this is just how payment-processing folks talk.”

    In a PaymentsSource article by John Adams that comments on the pressure to build a global powerhouse to counter large-scale Fintech mergers, he pulls in a quote from Zil Bareisis, a senior analyst at Celent who said: “As open banking and faster payments grow, the ability to offer end-to-end solutions from merchants to account funding irrespective of payment rails will be increasingly important.”

  • Thai Airways taps Worldpay for payments innovation

    Thai Airways taps Worldpay for payments innovation

    Thai Airways International (THAI), the flagship carrier airline of Thailand, has selected Worldpay, Inc. (NYSE: WP; LSE: WPY) as its international payments partner, as it targets overseas growth. To support its sustainable growth strategy, THAI needed an experienced partner to help it manage the complexities of cross-border payments and optimise the online booking journey across both mobile and desktop.

    Worldpay, a leader in card and alternative payments with global coverage, was selected for its international reach and unrivalled experience in the airline industry. Worldpay works with 88 of the world’s biggest airlines and has more than 25 years of experience in the sector. Consumer preferences are changing: while flights have traditionally been booked using credit cards, alternative payment methods (APMs) are growing in popularity. With 28 percent of Thai consumers using bank transfers as their preferred method for shopping online, the ability to offer local payment options will allow companies to make the most of Southeast Asia’s second largest economy.

    Additionally, global mCommerce penetration is set to rise from 38 percent in 2018 to 49 percent in 2022, which suggests that mCommerce is on track to overtake desktop sales by 2023. To adapt to this shift, Worldpay will support THAI in widening its breadth of payment methods and transaction currencies to appeal to the changing purchasing patterns of customers. THAI will initially focus its payment optimisation efforts on Australia and Europe – two key markets for the company. In Australia, the carrier’s passenger traffic is growing by two percent year-over-year, while in Europe passenger traffic is growing at a rate of 2.5 percent each year.

    A range of APMs such as iDEAL, Trustly, SOFORT, and Giropay will be rolled out over the coming months to make it easier for European travellers to book online. The THAI payment team will then expand their initiatives to India, China, and the rest of Asia Pacific. Worldpay will also help THAI execute their commercial strategy through advanced data analytics capabilities, which provide rich insight into transaction approval rates and payment costs. This data will enable the airline to expedite new sales strategies and optimise their payments infrastructure with cross-border operations.

    Wiwat Piyawiroj, THAI Executive Vice President, Commercial comments: “Tourism is booming in Thailand, with a 7.7% increase in domestic flights year-over-year for our service. Yet the market is also incredibly competitive, so it is vital to ensure we can best service our customers and their needs. Thanks to Worldpay, we will be able to offer a variety of payment methods that caters to the tastes of travellers all over the world, making it easier for them to book the holidays they want. As we grow, Worldpay will be a vital strategic payments partner and key to our continued success.”

    Phil Pomford, general manager for Asia Pacific, Global Enterprise eCommerce at Worldpay, said: “With global passenger numbers on track to double over the next 20 years, and Thailand forecast to enter the top 10 aviation markets by 2030, it is a hugely exciting time for THAI. We are delighted to support our partner as they continue to grow. Travellers are continuously evolving the ways in which they buy flights, and airlines must keep pace to match these shifting patterns. The airline industry has never been more competitive, and we look forward to helping THAI capitalise upon the opportunities ahead.”

    Lees ook:

    Lees ook:

  • Worldpay launches new cross-border payment options

    Worldpay launches new cross-border payment options

    UK-based Worldpay has introduced new payment solutions aimed at providing eCommerce businesses with more choices to disburse funds to partners and customers and across country borders.

    Worldpay’s dynamic payment solutions combine the enhanced Worldpay Bankout solution, which now delivers 154 direct bank disbursement destinations (up from 65), and Worldpay FastAccess – enabled by Visa Direct.

    With these payment options, partners and customers need no longer wait for days to receive funds or refunds as they now can obtain them via card in near real-time – through a mobile wallet or directly to a local bank account.

    Bankout is targeted at businesses needing to make a large number of global payments to – or on behalf of – their customers and suppliers. With 89 new local markets, Worldpay now provides seamless cross-border payouts for businesses in local currencies without the expense of making multiple international bank transfers.

    Dynamic payouts allow businesses to make faster, seamless card-based payouts in near-real time within a maximum of 30 minutes. Building on its launch in the United States last year, FastAccess is now available to Worldpay customers in over 50 new markets across Europe and Asia.

    The new payment solutions are targeted at wide range of industries. For example, travel and tourism companies and marketplaces can pay out funds to accommodation vendors or disbursements to travellers in a variety of countries and currencies; gaming businesses can provide near-instant payouts to customers; insurance companies can save costs by replacing local checks with bank transfers; and marketplaces can allow independent sellers to retrieve funds more quickly.

  • Worldpay extends real-time payouts to over 50 countries

    Worldpay extends real-time payouts to over 50 countries

    Worldpay, Inc., a global leader in payments, has announced the launch of new dynamic payout solutions that give multi-national eCommerce businesses more choices to disburse funds to partners and customers – quickly, easily and across country borders. Worldpay’s dynamic payout solutions combine the enhanced Worldpay Bankout solution, which now delivers 154 direct bank disbursement destinations (up from 65), and Worldpay FastAccess – enabled by Visa Direct.

    With these versatile payout options, partners and customers need no longer wait for days to receive funds or refunds as they now can obtain them via card in near real-time – through mobile wallet or directly to a local bank account.
    Bankout is an ideal solution for businesses needing to make a large number of global payments to – or on behalf of – their customers and suppliers. With 89 new local markets, Worldpay now provides seamless cross-border payouts for businesses in local currencies without the expense of making multiple international bank transfers.

    Dynamic payouts allow businesses to make faster, seamless card-based payouts in near-real time within a maximum of 30 minutes. Building on its launch in the United States last year, FastAccess is now available to Worldpay customers in over 50 new markets across Europe and Asia.

    A wide-range of industries benefit from these new flexible payout solutions. For example, travel and tourism companies and marketplaces can pay out funds to accommodation vendors or disbursements to travellers in a variety of countries and currencies; gaming businesses can provide near-instant payouts to customers; insurance companies can save costs by replacing local checks with bank transfers; and marketplaces can allow independent sellers to retrieve funds more quickly.

    Shane Happach, executive vice president, Head of Global Enterprise eCommerce at Worldpay, Inc., said: “As more and more companies send payments at lower values, cross-border, it will become a competitive differentiator to send quicker payouts to consumers and inexpensive disbursements to vendors and suppliers. It is estimated that by 2025, the sharing economy will generate Europe-wide revenues worth over €80bn and facilitate nearly €570bn of transactions4. At the heart are seamless, transparent, secure payouts, which can be made via card, mobile wallet or bank transfer in any currency, anywhere in the world.”

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Play-Asia.com Partners with Worldpay to Optimise Payments

    Play-Asia.com Partners with Worldpay to Optimise Payments

    Play-Asia.com, Asia’s leading online gaming and lifestyle brand, has chosen Worldpay, Inc. a global leader in payments, to support the next phase of its business growth as it seeks to reduce fraud and accelerate its expansion plans into new territories.

    Play-Asia.com required a partner that could provide a comprehensive payments solution that would help understand where revenues may be affected by high fraud rates, allowing them to develop effective risk management strategies to minimise potential losses.

    After evaluating several payments providers Play-Asia.com selected Worldpay for its advanced end-to-end solution including online payment gateway, and fraud management services. Worldpay’s Risk Guardian tool is helping Play-Asia.com tailor automated fraud rules for their business model and industry, allowing them to maximise acceptance rates and protect their revenues.

    Supported with detailed insights on transactions, and fraud trends across each market they operate in, PlayAsia.com is equipped with actionable data to optimise their payment traffic and significantly reduce the resources needed to manage fraud. Since working with Worldpay, Play-asia.com has seen a 40 per cent reduction in the time spent processing fraud cases, customer orders and identity verification checks.

    The company can now also serve new customers by offering additional payment methods such as Diners, Discover, and UnionPay in China.

    The partnership with Worldpay has brought together two innovative companies from the gaming and payment industries. Play-Asia.com is renowned as one of the largest online gaming distributors globally, offering gaming products and content, while Worldpay provides in-depth knowledge and state-of-the-art payment technology to help companies reach new customers and improve their online shopping experience.

    Jan Neuhäußer, CEO at Play-Asia.com said, “With over 15 years of serving our customers, we have grown to become a leading online retailer, focused on providing the best shopping experience, genuine high quality products and outstanding gaming choices and experiences.

    “To continue to deliver consistency, quality and global fulfilment through our online marketplace, we required a partner who would support us to develop our offering and strengthen our position. Worldpay’s industry expertise and guidance has enabled us to expand the range of payment options we offer, to alleviate the risk of fraudulent payments, and support our expansion plans into Latin America.”

    Phil Pomford, General Manager for Asia Pacific, Global Enterprise eCommerce at Worldpay said: “Over the next few years we will see the global entertainment market grow from $1.8 trillion to $2.2 trillion, with consumer spending on videogames alone forecast to rise to $498 million by 20211. This is a huge opportunity for Play-Asia.com not just in terms of revenue, but also in providing customers with an optimal online shopping experience. By working with Worldpay to put payments at the forefront of its eCommerce strategy, Play-Asia.com has gained a significant competitive advantage.”

    Lees ook:

  • Worldpay and Lianlian Pay team up to connect China to the world

    Worldpay and Lianlian Pay team up to connect China to the world

    Worldpay, Inc. the global leader in payments, and Lianlian Pay, one of the top mobile payment service providers in China, are partnering to expand Worldpay’s settlement and pay out capabilities to include Chinese Yuan (CNY).

    Lianlian Pay provides an efficient and cost-effective cross-border payment and money transfer solution to Chinese and international businesses and marketplaces. As a result of the partnership, Worldpay customers can expect access to pay outs in CNY and enhanced deposit capabilities, on top of the 18 settlement currencies already available via a single technical connection. The strategic collaboration will open up local currency settlement and pay out services to businesses across retail, travel and airlines sectors.

    By partnering with Lianlian Pay, Worldpay will also be able to further streamline their one-stop service to eCommerce businesses; reducing the time it takes for merchants to receive their funds in local currency in China.

    Set to launch in mid-2018, the integration will also help international companies to grow their business in China as it will become easier for them to receive settlement in CNY, without needing to deal with a bank or third-party supplier. As the Chinese eCommerce market continues to expand, the time is ripe for international businesses to establish their presence in the region. Worldpay’s new service will undoubtedly facilitate further growth and encourage investment into China, helping to link the Chinese eCommerce market to the rest of the world.

    Shane Happach, Executive Vice President, Head of Global Enterprise eCommerce at Worldpay commented: “As China continues to cement its position as the largest eCommerce market in the world, the expansion of our settlement and pay out services to include CNY will have huge impact for businesses in China and beyond. We are delighted to be partnering with Lianlian Pay, an innovative and established payments leader in the region, to meet the rising demand for cross-border payments and domestic currency settlement. By combining our global payments capability and expertise with Lianlian Pay’s offering, we are enabling our customers around the world to tap into the tremendousgrowth opportunity.”

    Arthur Zhu, President at Lianlian Pay said: “With its strength in traditional international trade, China is poised to be one of the largest recipients of trade proceeds from all over the world. By partnering with market leader Worldpay, Lianlian Pay, as a local expert with a proven track record of high volume RMB settlement, can make a bigger contribution to facilitate transactions for millions of Chinese companies and individuals.”

  • The luxury mobile shopper emerges in Asia, says Worldpay

    The luxury mobile shopper emerges in Asia, says Worldpay

    Shoppers in emerging economies such as China and India are seeking a more luxury, personalised shopping service on their mobile, and many Asia Pacific shoppers are even willing to pay more for a product or service if the mobile shopping experience is better. This is according to new research from Worldpay, a global leader in payments.

    Worldpay’s research examined the viewpoints of 16,000 consumers across 10 global markets, including China, India, Japan and Australia in Asia Pacific. Questioning consumers about their last mobile shopping experience and what makes them hit the “pay” button, the research found that mobile payment apps are on track to become the luxury shopping experience of the future.

    Key findings in Asia Pacific include:

     62% of Chinese consumers and 64% of Indian consumers are happy to pay more for an item, trip or service if the mobile user experience is better; far ahead of the global average of 41%

     56% of consumers in India and 54% in China are more likely to shop on a mobile phone if sent a personalised push notification from a nearby store; far outweighing the global average of 35%

     As the mobile shopping experience improves, more Australians are purchasing higher-end goods on their smartphones, with 36% spending over $85 AUD (US$67) on their last purchase

     In Japan, 38% of mobile shoppers spent over ¥7410 (US$69) on their last purchase

     India and China prefer purchasing via apps over mobile browsers more than any other markets in the world, at 82% vs. 18% and 80% vs. 20% respectively. This is compared to the global average of 71% vs. 29%.

    Phil Pomford, General Manager for Asia Pacific, Global Enterprise eCommerce at Worldpay, said: “Shoppers in Asia’s emerging economies are active mobile users who have leapfrogged past traditional modes of online shopping and now demand a personalised, luxury, on-the-go experience in the palm of their hand. Online merchants that can deliver the right experience have much to gain, as Asian shoppers are making bigger, more valuable purchases via their smartphones and are even happy to spend more with merchants that deliver a better experience. At the same time, to capitalise on the mobile shopping opportunity, merchants must consider how to help smartphone shoppers feel secure.”

    Indeed, despite exciting growth in mobile shopping in Asia Pacific, security concerns continue to hinder the full potential of mobile commerce. Australia is behind Asia in terms of mobile app adoption, with significant issues remaining around security and usability – 73% of Australian consumers say they only download apps from brands they trust. The number one reason for smartphone basket abandonment in Australia is concerns that the website wasn’t secure. In Japan, meanwhile, security is also a concern, with just 37% of consumers saying they would be happy for apps to store their payment details, against a global average of 57%.

    Pomford added: “Merchants can help to mitigate shoppers’ security fears by providing a mobile payment experience that’s quick, seamless and familiar. This might mean storing consumers’ payment details so they don’t need to enter them every time, or simply providing a range of payment options so that consumers can always use their preferred method. In China, for example, lack of preferred payment options is the top reason for smartphone basket abandonment – an important reminder that capturing this emerging class of luxury mobile shoppers depends upon providing a comfortable and convenient mobile payment journey.”

     

    Lees ook:

    Lees ook:

  • More online super sales for Asia online market

    More online super sales for Asia online market

    While the US formulated online super sales, such as this week’s Black Friday, Asia has adopted the concept with a vengeance.

    In fact, China has increasingly been exporting Alibaba’s Singles Day (11.11) event, which this month racked up a massive US$35 billion in sales. November is the favoured month for this new consumer mania, offering the Singles Day, Black Friday and Cyber Monday sales.

    Both Black Friday and Cyber Monday themselves have been catching on in the Asia Pacific, growing by 29 per cent last year, according to global payments company WorldPay.

    It says that despite forking out $17.8 billion on Singles Day last year, Chinese consumers still went hunting Black Friday bargains, with overall spending on the day up by 37 per cent from the previous year. In Hong Kong, the rate of growth was 32 per cent, and in Singapore 21 per cent.

    While retailers are among the biggest Black Friday winners, new WorldPay data suggests this year could also be a great opportunity for savvy APAC businesses in the travel and digital sectors. In Hong Kong, spending with travel and airlines saw a 30 per cent surge last year, with Singapore figures up 20 per cent as travellers jumped online to search for flight and hotel deals.

    Not just retailers

    Shoppers are also increasingly seeking out bargains for digital content such as subscriptions, e-books and on-demand box sets. Black Friday spending in this sector last year grew 62 per cent in Hong Kong and 14 per cent in Singapore.

    Not just retailers can benefit from Black Friday, but also a range of e-commerce businesses, says WorldPay Asia Pacific GM Phil Pomford.

    “While Black Friday and Cyber Monday have typically been the realm of retailers, a more diverse range of businesses are now recognising they can also take can take advantage of this special online opportunity.

    Shoppers during this time are highly engaged, proactive and looking for a wide range of online deals, so the potential to reach new customers and strengthen brand loyalty is huge, regardless of sector.

    “E-commerce businesses should set themselves up for success by ensuring their websites are prepared for heavy traffic, and offer simple payment options to drive shopping-cart conversions. They might also consider following the example of Amazon and kickstart Black Friday deals a week early.”

    Black Friday online sales surpassed $3 billion last year and are expected to rise this week, says Adobe Digital Insights, as buyers seek to avoid long queues and lost hours in retail stores.

    In Southeast Asia, Google searches for “Black Friday” have surged over the past five years, and 12 months ago major offline/online retailers like Robinsons, Sephora and Zalora offered generous discounts for the event.

    “Many industries rely on this event to make up a large portion of their fourth-quarter sales, in particular toys and games,” says Euromonitor International senior toys and games analyst Matthew Hudak.

    ‘Sure to jump on’

    Digital campaign company RTB House says Black Friday last year attracted 106 per cent more people to online stores, with 204 per cent more transactions.

    “We anticipate conversion rates surging this time,” says RTB House Southeast Asia country director Chandra Kuncara. “Customers who missed out on Singles Day will be sure to jump on this event.”

    He says personalised retargeting is an important selling tool during Black Friday. With AI technology and deep-learning algorithms, marketers can highlight most-desired products for each individual customer.

    More purchases mean more packages being shipped, and international courier service FedEx is again expecting to handle a record number of packages over the peak holiday shopping period, which starts on Monday and runs to December 24. This year it is expecting 380 to 400 million packages.

    The growth of cross-border e-commerce is turning the peak shipping season into a global phenomenon, says FedEx. For instance, 37 per cent of Singles Day purchases in China last year were from international brands or merchants. Cross-border shopping is expected to make up 20 per cent of e-commerce sales by 2022, led by Asia Pacific.

    “While an online purchase takes just a few clicks, logistics providers are working hard behind the scenes powering every moment,” says FedEx Express AsiaPacific president Karen Reddington. “Our business is the backbone of the e-commerce market.”

    Meanwhile, while shoppers scramble for Black Friday bargains this week, outdoor retailer REI is closing its 154 US stores for the third consecutive year, offering its nearly 12,000 employees a paid holiday. It is truly going against the tide by also putting a hold on online orders.

    Lees ook:

  • Black Friday bargain hunting to benefit more than just retailers

    Black Friday bargain hunting to benefit more than just retailers

    Worldpay, a global leader in payments, has predicted that Black Friday and Cyber Monday mania will continue this year, but with a wider range of businesses expected to get in on the online action. Although the shopping event has traditionally been the realm of US retailers, the shopping event grew by 29% in Asia Pacific last year.

    Despite forking out $17.8bn on China Singles Day, Chinese consumers were still hunting Black Friday bargains, with overall spending on the day up by 37% compared to the previous year. The event is also growing fast in Singapore and Hong Kong, at a rate of 21% and 32% respectively.

    While retailers are among the biggest Black Friday winners, new data from the payments processor suggests this year could also be a great opportunity for savvy APAC businesses in the travel and digital sectors. In Singapore, spending with travel & airlines was up 20%3 compared to 2015. And in Hong Kong, travel and airlines saw a 30%4 surge, with eager travellers jumping online to search for great flight and hotel deals.

    Shoppers are also increasingly seeking out bargains for digital content such as subscriptions, e-books, and on-demand box sets, with Black Friday spending in this sector experiencing year on year growth of 62%5 in Hong Kong and 14%6 in Singapore.

    Phil Pomford, General Manager for Asia Pacific at Worldpay said based on the data, 2017 seems set to be another solid year for the shopping event and a fantastic opportunity for a variety of e-commerce businesses, not just retailers.

    “While Black Friday and Cyber Monday have typically been the realm of retailers, a more diverse range of businesses are now recognising that they too can take can take advantage of this unique online opportunity. Shoppers during this time are highly engaged, proactive, and looking for a wide range of online deals, so the potential to reach new customers and strengthen brand loyalty is huge, no matter what sector you operate in.

    “E-commerce businesses should ensure they set themselves up for success by making sure their websites are prepared for heavy traffic and offer simple payment options to drive shopping cart conversions online. They might also consider following the example of US retail giant Amazon and kickstart Black Friday deals a week early in order to generate excitement early on.”

    Lees ook:

  • Razer partners with Worldpay for seamless online payments

    Razer partners with Worldpay for seamless online payments

    Worldpay, a leader in global payments has announced that it has been selected by Razer, the leading global lifestyle brand for gamers, as one of its key online payments provider for the virtual credits service Razer zGold.
    Razer’s zGold service allows gamers to purchase virtual credits in exchange for digital content such as games and in-game items from different content providers.

    Worldpay was chosen by Razer as it offers global coverage and a comprehensive suite of payment services. The company will also provide deep analytics to help Razer better understand its customers’ online behaviour, as well as extensive customer support. Since implementing Worldpay’s suite of payment solutions and a revamped checkout, Razer has seen a rapid take-up of zGold and retention rates. Razer is now also able to accept additional payment options including Alipay.

    Ian Lim, Director of Software at Razer said: “The Razer zGold service is set to transform the virtual credits landscape and we chose Worldpay for its ability to help us scale quickly cross multiple regions. We have seen increased user take-up and retention rates since we began working with the Worldpay team and there is much growth ahead for both companies.”

    Stuart Thornton, VP Business Development APAC, Global eCom, Worldpay said: “We are entering a hugely exciting period for Razer, and are delighted to be supporting its vision to create a first-class experience for gamers. Whether purchasing the latest hardware in the online store, or buying new games and digital content with Razer zGold, gamers can expect a seamless online experience.”

  • Singles’ Day sales set to soar

    Singles’ Day sales set to soar

    Worldpay, a global leader in payments, is predicting another record-breaking China Singles’ Day for businesses around the world, as the eCommerce extravaganza goes global.

    New data from Worldpay reveals that last year’s event grew by 39% globally1, with sales outstripping Black Friday by 137%.2 Online shopping activities peaked at 17.24 GMT3, at which point Worldpay was processing 44,505 payments per minute.

    The payments processor is expecting 11 November to make history again this year, as more and more international brands opt to participate in the shopping festival.

    According to Worldpay, retailers in Australia and Hong Kong are seeing the fastest growth, with sales rising by 105% and 71% respectively year-on-year.4

    Although the volume of sales has plateaued in mainland China, the average spend per purchase continues to rise, at a rate of 9%,5 as more and more shoppers tend to splurge on big ticket-items.

    Worldpay’s transaction data supports recent findings from the Global eCommerce Leaders Forum (GELF), which revealed the rise in consumer spending power in China is translating into growing sales on international eCommerce sites, as more Chinese shoppers than ever before are seeking genuine products from cherished global brands.

    Phil Pomford, General Manager for Asia Pacific at Worldpay said: “Since its inception as a local celebration of singledom, Singles’ Day has risen to become the world’s top grossing-online shopping holiday, and the event knows no boundaries. Our data reveals how fast Singles’ Day is growing internationally, so for international businesses looking to break into the huge Chinese eCommerce market, 11 November should be an important landmark in the calendar year.

    “To turn browsers into buyers, it is essential to tailor the online shopping experience to local tastes. For Chinese consumers, this means focusing on your mobile proposition. Shoppers expect to use their preferred payment option – increasingly e-wallets like Alipay and WeChat Pay – and merchants should offer a cutting edge checkout experience to attract tech savvy consumers.”

  • Virtual Reality: The Future of Retail in Asia Pacific?

    Virtual Reality: The Future of Retail in Asia Pacific?

    New research from Worldpay, a global leader in payments, has revealed that Virtual Reality (VR) and Augmented Reality (AR) technology are slowly gaining ground across Asia Pacific. Chinese consumers are leading the region – and the world – with 95% of survey respondents saying they’ve used VR or AR technology in the past three months. Other APAC markets are more cautious in their VR/AR uptake, yet remain confident that the technology may play an important role in the future of retail.

    Worldpay’s study queried more than 16,000 consumers across eight markets – including China, Japan and Australia in Asia Pacific – to get their viewpoints on VR/AR adoption; from current uptake and future potential, to the technology’s benefits and barriers. In Asia, the research revealed that although China is a leader in the virtual reality revolution, other markets are only at the start of their VR journey.

    In Australia, less than a quarter of survey respondents (22%) say they’ve used VR technology at some point, and a mere 14% describe themselves as early adopters. It’s a similar situation in Japan, where only 19% have tried VR technology – the least of any market surveyed by Worldpay. In contrast, nearly 100% of Chinese consumers surveyed say they’ve tried AR or VR technology at least once, and more than half use these technologies at least once per week.

    Phil Pomford, General Manager for Asia Pacific at Worldpay, said: “China is blazing a trail for VR/AR adoption and showing other Asia Pacific markets what the future could look like. At the moment, the technology isn’t driving a huge amount of uptake in markets like Australia and Japan – but as we’ve seen before, technology can go from zero to a hundred in a very short amount of time. Therefore, with China leading the way, Asian businesses should start investigating the future of VR/AR technology now, so that they’re ready to meet consumer demands as and when they arise.”

    Already, even cautious Asia Pacific markets are demonstrating interest in how VR/AR can improve retail experiences. Of Australian survey respondents, 61% think VR and AR could someday change the way we shop. Two thirds (66%) of Japanese consumers surveyed would like to see more physical stores using VR and AR, and a full 70% would like to see the technology used in retail apps. Unsurprisingly, Chinese consumers’ interest in VR/AR retail experiences is even more enthusiastic – 84% of respondents believe that VR/AR is the future of shopping, 92% say they’d like to see more retail apps make use of VR/AR, and only 1% say they’d never be comfortable making a purchase in a virtual environment.

    Pomford added: “Many merchants are already looking at how VR/AR technology might create new Omni-channel experiences, enhance mobile shopping, and drive the next generation of consumer-led retail innovations. A compelling, immersive and seamless VR experience can drive higher customer engagement and may even have the capability to increase sales. As more companies experiment with VR/AR, they need to consider if VR technology can support purchases as well. Whatever the sales channel, it’s vital to make the payment process both slick and secure for customers. ”

    In response to this, researchers at Worldpay are investigating how shoppers can pay using a credit or debit card while remaining immersed within a virtual environment. The global payments processor has created a proof of concept, which provides the same levels of convenience, and security that shoppers have in-store and online, without needing to leave the virtual world.

    The prototype design uses Host Card Emulation (HCE) to virtualise the purchasing process. The payment uses EMV* technology, and for purchases under £30 (RMB268.25), the prototype works in the same way a contactless payment does – with a tap of the (virtual) card across a (virtual) card machine. For higher value purchases, Worldpay has created a technology called AirPIN. This first of its kind system allows the consumer to see a range of numbers whilst immersed in the virtual world, and then collect the four numbers that make up their PIN, one by one, using their virtual controller.

    Lees ook:

    Lees ook:

  • In Singapore, Credit Cards Set to Collapse by Nearly a Quarter

    In Singapore, Credit Cards Set to Collapse by Nearly a Quarter

    Credit card use in Singapore is set to fall 24% in less than five years, according to new research from Worldpay, the leader in global payments.

    For its Global Payments Report 2016, Worldpay analysed 30 eCommerce markets around the world, including Singapore, China, India, Hong Kong, Taiwan, South Korea, Malaysia and Australia in Asia. In Singapore, Worldpay found that although credit cards are the most popular payment method at the moment, taking a 60% share of the payments market, credit cards are set to collapse by 24 percentage points in 2020.

    Phil Pomford, General Manager Asia Pacific, Global eCom at Worldpay, said: “Our projections show that by 2020, credit cards will account for just 36% of the payment market in Singapore, which represents a significant drop in usage. This growing credit-wariness could be symptomatic of a wider political push to help consumers avoid debt. The government’s Total Debt Servicing Ratio (TDSR) rules, implemented in 2013, were designed to ensure that monthly debt payments don’t exceed 60% of the debtor’s monthly income. This public focus on the issue of debt helps explain why credit card use is predicted to fall nearly a quarter in less than five years, while debit card use is expected to rise.”

    At the moment, debit cards, cash on delivery and bank transfers each account for 9% of the total payments market in Singapore. However, according to Worldpay’s research, all of these non-credit payment options will double or nearly double by 2020. Debit card use is expected to rise by 9 percentage points to cover 18% of the total payments market by 2020, while cash on delivery and bank transfers will represent 18% and 17% of the market, respectively. E-wallet growth is likely to remain relatively flat, growing from 9% market share in 2016 to 10% share by 2020.

    Consumer debt has been a growing topic in Singapore over the past few years, leading the government to create new regulations in order to help borrowers pay down their debts and to prevent further debt from accumulating[1]. Three years ago, the government introduced the TDSR rules to prevent any Singaporean from taking out a loan if the resulting monthly payments would equate to 60% or more of his or her salary. Although those regulations were recently loosened to help people with long-standing loans refinance more flexibly, Worldpay’s recent research still indicates that the government’s programme to increase credit awareness and discourage too much borrowing is resonating with consumers. They are aware of and concerned about rising household debt[2] and now want easier access to non-credit payment options.

    Pomford added: “Our research strongly suggests that Singaporeans will start using a wider range of payment methods in the next five years, possibly influenced by the government’s work to reduce consumer debt and encourage Singaporeans to think more carefully before they shop on credit. Therefore, online merchants that want to win the hearts and wallets of shoppers in Singapore must offer a range of traditional and alternative payment methods – from debit cards, to cash on delivery and bank transfers – because credit cards alone just aren’t enough. Companies that sell online can also partner with a knowledgeable payment provider in order to ensure that they continue to offer the right payment experience and keep gaining customers in Singapore’s thriving eCommerce market, which is set to grow by 11% to US$5.8 billion by 2020.”

  • ‘Super-shoppers’ dominating online retail

    ‘Super-shoppers’ dominating online retail

    A Worldpay global survey of 20,000 consumers has discovered that buying power in the internet age is concentrated within a group of high-spending, high-frequency “super-shoppers”.

    While these shoppers make up just 5 per cent of the population in China, they account for 92 per cent of all money spent buying physical goods online in China each month.

    Worldpay’s research into three Asia Pacific markets further reveals that APAC super-shoppers are most likely to shop online via a mobile device, and are demanding when it comes to payment method. The international payments company polled 2000 consumers in each of the 10 countries covered by the Why Do They Pay That Way? Study, including China and Japan.

    Key findings include…

    • Chinese super-shoppers are more likely than the average Chinese shopper to use a credit or debit card.
    • More than 60 per cent of Japan’s online shoppers will switch to another retailer if they cannot use their preferred payment option at checkout.
    • Australian super-shoppers were the world’s second-biggest buyers, spending on average more than £200 (US$260) on their latest online transaction.
    • The Chinese are the biggest mobile shoppers in the world, with 33 per cent of super-shoppers making their latest online purchase by mobile phone.

    “With eCommerce markets developing at lightning speed across the Asia Pacific region, it’s no surprise elite shoppers are taking their spending power online,” says Worldpay GM Asia Pacific Phil Ponford. “The super-shopper trend is driven by a growing middle class, high mobile penetration and advancements in consumer technology.

    “APAC super-shoppers are passionate about what they buy and sophisticated in how they shop. They do research to find the most competitive prices, and will turn elsewhere if they discover they can’t use their preferred payment method at checkout.”

    Unable to pay

    Internationally, 36 per cent of super-shoppers said they had experienced the situation of reaching checkout and being unable to pay with any of the listed options. This was particularly the case in China, where 44 per cent of Super-Shoppers said they could not use their preferred payment method.

    When faced with not being able to use their preferred payment option, super-shoppers may buy the same item from another website or abandon their purchase all together. In Japan, 61 per cent of super-shoppers said they would switch to another retailer if unable to use their preferred payment option at checkout. Worldpay estimates that for each lost sale globally, retailers are missing out on as much as £100.

    Super-shoppers in APAC overwhelmingly prefer credit cards. While 41 per cent of the general population in China prefers to pay online with Alipay, only 18 per cent of China’s super-shoppers said they were likely to use their nation’s most popular eWallet. Instead, 54 said they preferred to use a credit card.

    “Retailers should be looking at super-shoppers as a distinct group that often behaves very differently from other customers,” says Pomford. Retailers who do not support the right range of payment methods could actually lose major revenue without noticing.

    He describes super-shoppers as an audience that thinks of online shopping as a daily task, not just an occasional treat.