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Table of Contents

Lead Story

2015 in review

Patti Murphy

News

Industry Update

Target to pay $39 million to MasterCard issuers

FTC kills telemarketers' remotely created payments

Mobile tech drives global holiday spend

Black Friday lives on amid expanding alternatives

Features

Redesigning financial services for Millennials: A conversation with Max Levchin, co-founder and CEO of Affirm

U.S. EMV - outside looking in

China on mobile fast track

Views

Tools of the tradeoff

Dale S. Laszig
DSL Direct LLC

Will new payment schemes bump card brands aside?

Ken Musante
Eureka Payments LLC

Education

Street SmartsSM:
What does the crystal ball say for 2016? - Part 1

Jeffrey I. Shavitz
TrafficJamming LLC

EMV liability shift: Who's liable for what - and when?

Allen Friedman
Ingenico Group

Now more than ever, managing e-commerce risk matters

Kirsty Tull
BillPro

Company Profile

Benseron Information Technologies Inc.

New Products

All-in-one Android POS for small business

Sircle POS
Sircle POS

Versatile mPOS solution for all

Infinea
Infinite Peripherals Inc.

Inspiration

Realize your potential

Departments

Readers Speak

Letter from the editors

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

December 28, 2015  •  Issue 15:12:02

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Mobile tech drives global holiday spend

Early retail reports from the holiday shopping season showed increased e-commerce activity around the globe. Consumers in the United States and China were the most active shoppers, purchasing low-price, high-quality U.S. merchandise, analysts stated.

"Consumers right now are getting great value for significantly less this holiday season given the deflationary environment that continues to impact overall trends in spending," said Jack Kleinhenz, Chief Economist at the National Retail Federation. "Additionally, the broadening of the holiday season, warmer than normal weather patterns and a shift in spending toward services remain the top challenges for retailers right now."

The NRF released a report Dec. 11, 2015, covering the first half of the holiday season, sharing U.S. Commerce Department data that revealed a 0.2 percent seasonally adjusted increase and unadjusted year-over-year increase of 1.4 percent. Following are additional report highlights:

E-commerce days

In addition, Amazon.com introduced Prime Day on April 15, 2015, a one-day shopping event featuring exclusive deals for Amazon Prime members. The event drew mixed reviews from retail analysts who noted that the best deals of the day were on Amazon-branded products, many of which sold out quickly. However, Amazon noted that Prime Day sales exceeded 2014's Black Friday, claiming to have sold tens of thousands of Fire TV sticks, DVDs and miscellaneous merchandise within the first fifteen minutes of the event.

Ant Financial Services Group, parent company of Alipay, held a Singles Day Global Shopping Festival Nov. 11, 2015 (dubbed 11.11), reportedly processing $14.3 billion, the most shopping revenue ever reported in a single day, with mobile payments accounting for 68.7 percent of overall volume.

"This day demonstrates the power of domestic China consumption, and the Chinese consumer's strong demand for international products," said Daniel Zhang, Chief Executive Officer at Alibaba Group. "It also showcases how Alibaba uses big data, cloud computing and mobile innovations to create the best shopping experience for buyers and sellers."

Global Fest highlights

Buyers and sellers from 232 countries, including Japan, South Korea, Germany, Australia and the United States, participated in the 11.11 event. More than 16,000 international brands were represented, and 33 percent of shoppers purchased merchandise from global retailers.

The 2015 11.11 shopping event reflected Alibaba's globalization strategy of enabling Chinese consumers to purchase authentic merchandise from leading retailers worldwide, the company stated. Additional highlights from the Nov. 11 festival include:

Alipay's ePass express lane

A report released Dec. 3 by Ant Financial measured holiday sales activity between Nov. 17 and Nov. 30., finding that Chinese consumers spent 15 times more with U.S. retailers compared to the same period last year. The ecommerce giant attributed the increased spend to widespread adoption of its Alipay ePass program, an ecommerce platform launched Sept. 2014 that enables leading U.S. retailers to sell and ship directly to Chinese consumers.

Alipay US President Jingming Li said, "With better logistics and localized payment options now available to make cross-border purchases, we expect this tremendous growth of Chinese consumers to continue throughout the holiday season, particularly as U.S. e-commerce retailers provide more discounts and promotions."

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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North American Bancard | USAePay | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems