Online business analyst eMarketer reported that Canadian retailers would sell an estimated $15.5 billion Canadian worth of goods and services in 2008, up some 12.4 percent from 2007's total of C$13.8 billion.
By 2012, Canadian ecommerce sales should reach C$22.8 billion, including travel sales, digital tickets, and digital products like software. In spite of this projected growth, Canadian's still trail their U.S. consumers in terms of purchasing online, according to a new study from eMarketer.
"Consumers in Canada are avid online product researchers, on par with their US counterparts. But they are much more likely to make a subsequent purchase in-store rather than on a Website," said eMarketer on its website.
Friday, February 13, 2009
Visa showcases mobile payments, money transfer, payment services at 2009 Mobile World Congress
London and San Francisco, Feb. 13, 2009 -- Visa Europe and Visa Inc. (NYSE: V - News), the world's largest retail electronic payments network1, will be showcasing the latest innovations in payments at the 2009 GSMA Mobile World Congress. In addition, Visa executives will discuss how Visa is helping to drive the convergence of financial services and mobile technology.
Visa will use real life examples to demonstrate how its innovations in mobile payment technologies can enhance consumers’ daily lives, providing speed, convenience, security and choice.
Visa mobile product demonstrations will include:
- Visa Mobile on Android: In December, Visa launched the first commercial service in the U.S. that provides mobile offers, transaction alerts and a locator service. Visa Mobile is available on mobile devices powered by Android, including the T-Mobile G1™ phone.
- Mobile Visa payWave: Secure mobile point of sale payments using Visa payWave embedded in a mobile device. Visa will demonstrate both NFC-based and SIM-based contactless payments.
- Mobile Money Transfer: A demonstration of handset-to-handset and online-to-handset money transfer.
- Mobile Transaction Alerts: Near real-time notification of card purchase activity delivered to the mobile device.
- Mobile Offers: Targeted offers and coupons delivered directly to the mobile device and redeemed at near-by merchants.
- Mobile Merchant: Convenient cashless transactions on the move. Mobile merchants, such as a pizza delivery service, can accept Visa payments with the help of enhanced mobile handsets that double as a mobile acceptance device.
- Smart Poster: Co-branded mobile posters, signposting nearby coffee shops with the offer of exclusive mobile ‘buy one, get one free’ offers.
The Congress is the key global conference and exhibition for the mobile industry and is sponsored by the GSM Association (GSMA). It attracts more than 1,200 exhibitors, and more than 50,000 visitors including key Visa clients and vendors from around the world.
Visa executive speakers at the Mobile World Congress 2009 include:
- Kelly Alpert, Head of Money Transfer Initiative, Visa Inc.
- Mary Carol Harris, Head of Mobile, Visa Europe
- Guido Mangiagalli, VP, Visa payWave and Mobile, Visa Europe
- Pam Zuercher, Senior Business Leader, Product Innovation, Visa Inc.
Source: Company press release.
CardForum | PCI COMPLIANCE MAY BENEFIT BREACH-SUIT DEFENDANTS
PCI COMPLIANCE MAY BENEFIT BREACH-SUIT DEFENDANTSReported compliance with the Payment Card Industry Data Security Standard could help Heartland Payment Systems Inc. defend itself against class-action lawsuits filed in the aftermath of its reported card-data breach, according to Ronald Mann, a professor of law and co-chair of the Charles E. Gerber Transactional Studies Program at Columbia Law School.
Since Heartland announced the breach Jan. 20 (CardLine, 1/20), consumers have filed at least three lawsuits alleging the Princeton, N.J.-based merchant processor violated the Fair Credit Reporting Act and a variety of state data-breach notification and consumer-protection laws (CardLine, 1/29).
Plaintiffs could have difficulty proving the breach harmed them, given that, besides some cardholder names, the only breached information appears to have been card data, Mann says. Clearing fraudulent transactions from a card account can be a hassle for consumers, but issuers tend to cancel cards or reimburse cardholders for fraudulent transactions, he says. "In previous litigation in this area, class-action suits against the hacked merchant have suffered from the problem that the likelihood of identity theft or of substantial harm depends a great deal on the particular circumstances of the victims and of their card issuers," Mann says.
| Welcome to the new IRNewsLink Financials |
Welcome to the new monthly IRNewsLink Financials newsletter. Understanding the financial performance of retailers and the technology and services providers who serve them has never been more important than in today’s economy. With this new monthly edition of IRNewsLink, readers can follow key financial and operations metrics. Included in this report are charts and articles that summarize the monthly activity of retailers’ web sales, the financial performance of key vendors, new equity deals, recent mergers and acquisitions, and Internet Retailer’s new stock index.
Web sales continue to increase
Internet retailers continue to grow sales both on a quarterly and an annual basis. The combined quarterly sales of 17 web retailers that broke out sales in January and early February grew by 14.1% to $8.25 billion in 2008 from $7.23 billion in the comparable quarter in 2007. The combined annual sales of 14 retailers grew by 24.6% to $23.04 billion in 2008 from $18.49 billion in 2007.
The combined quarterly sales of 11 companies in January and early February grew by just 0.6% to $21.12 billion in 2008 from $20.99 billion in 2007. The combined annual sales of 10 vendors grew by 11% to $84.40 billion in 2008 from $76.03 billion in 2007.
Service & technology providers
| The Internet Retailer 2009 Conference & Exhibition, America's Fastest Growing Show *, will be held June 15-18, 2009 at the Boston |
Convention & Exhibition Center. IRCE 2009 is devoted to the strategies and tools that e-retailers can use to thrive in a recession. It draws e-retailers from all channels with the most comprehensive conference agenda and the largest display of e-retailing technology. Hear 179 E-Retail Pros in 94 conference sessions, visit 350 exhibiting companies and network with 5,000 E-Retailers.