E-commerceRSS

State Bank of India revamps e-commerce payments gateway

SBI to launch digital-only bank in India

State Bank of India (SBI) has deployed the “largest payment gateway for cards’ e-commerce transactions”, according to Shiv Kumar Bhasin, CTO of the SBI group. It processes ten million transactions per day, with 2,000 transactions per second (TPS) of peak load processing capabilities. This “beats the business volumes processing capabilities of a lot of leading […]

TSB turns to First Data for bank portfolio services

TSB 1

First Data has been appointed by Sabis, the IT arm of Spanish banking group Sabadell, to provide processing and acquiring services across its subsidiary TSB. First Data will migrate TSB’s credit and debit card portfolio onto its FirstVision platform. Additionally, First Data will power TSB’s digital payments and provide merchant acquiring services for money and […]

Silicon Valley Bank and First Data launch fintech accelerator

Two US credit unions outsource core processing to Symitar

US-based Silicon Valley Bank (SVB) and First Data are calling on US start-ups to apply for their latest Commerce.Innovated accelerator programme. The four-month virtual programme provides participants with operational mentorship from the pair’s respective networks. Reetika Grewal, head of SVB’s payments strategy and solutions group, says its “small class size allows us to work closely […]

Mastercard AIs up future with start-ups

mastercard

Mastercard has welcomed five new start-ups to its Start Path Global programme – its initiative to boost its share of the commerce market. The programme is open to all start-ups who focus on banking and payments and have raised a “significant seed” or Series A round of investment. Three out of the five firms joining […]

UniCredit and SIA bring Alipay to Italy

Chinese tourists

The agreement between Alipay and UniCredit has now entered the operational stage. Technological infrastructure for this has been provided by SIA.

Virtual cards could displace cheques in the travel market

Virtual card

With the B2B virtual card market estimated at more than $95 billion in gross spending in 2016, payment providers would do well to target the travel sector, which represents the largest single vertical volume of that spending, according to Mercator Advisory Group.

Amazon enables cash account loads via retail locations

Cash only

In a bid to reach unbanked consumers as well as those who prefer cash, Amazon has debuted a new service that enables consumers to load cash to Amazon accounts at US brick-and-mortar merchant locations and then use those funds to make online purchases through Amazon.

US Supreme Court won’t revive settlement in interchange case

The court says no

A legal battle between merchants and payment networks over interchange fees that has been raging for more than a decade will continue now that the Supreme Court of the US has declined to restore a $5.7 billion settlement agreement that was tossed out by a lower court.

Tradeshift’s AI Ada aids commerce

Ada 2

Supply chain finance firm Tradeshift has unveiled Ada – an artificial intelligence (AI) layer on its commerce platform. Ada will learn from user interactions, “improve business processes”, and offer contextual information. It is available to third-party developers and interacts with users platform-wide as a conversational interface. Christian Lanng, CEO and co-founder of Tradeshift, says Ada […]

Criminals turn their attention to online fraud in the US

Cyber crime

Criminals have deepened their focus on US online transactions since the country’s October 2015 EMV liability shift, with card-not-present (CNP) fraud expected to hit $6.4 billion in 2018, according to a new report from the US Payments Forum.

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