Retail Decisions Expands Payment Processing Capabilities to Meet Growing Need for Alternative Payments

July 07, 2011 07:34 AM Eastern Daylight Time

ReD now accepts Amazon Payments, Green Dot,
Mazooma, Google Checkout, Moneybookers and Ukash

LONDON--(BUSINESS WIRE)--Retail Decisions (ReD), a world leader in payment fraud prevention and payment processing, has expanded its payments types by adding six new payment methods to service the growing popularity of alternative payment methods as consumers look for a wider choice of options online.

While credit cards continue to be the top online payment choice, consumers are increasingly demanding multiple payment options. ReD’s online retailers will now be able to accept payment through Amazon Payments™, Google™ Checkout, Green Dot^®, Mazooma™, Moneybookers, and Ukash™.

Credit card’s share of online payments is expected to decline from 60% today to 44% by 2012 and already 41% of online consumers prefer alternative payment options over credit cards*. Fraud-conscious consumers are increasingly reluctant to provide credit card details and alternative payment options such as eWallets are seen as more secure.

Carl Clump, CEO of ReD, commented; “ReD has supported alternative payments for some time but the addition of these six new methods expands our expertise in alternative payment processing. It is important that ReD meets the changing needs of consumers and online retailers internationally, taking into consideration payment preferences which vary dramatically across cultures. For example, in the US and UK the trend is the growing use of debit cards, rather than credit cards, but in the Far East many people use eWallets to pay for items ordered online. The emergence of alternative payment options has attracted new online shoppers, who previously had a variety of concerns about ecommerce or no access to credit cards. This in turn has created a new opportunity for online merchants and we are delighted to be able to offer this service to our clients.”

*Javelin Strategy & Research, Online Retail Payments Forecast 2010-2014

About ReD

Retail Decisions (ReD) is a world leader in payment fraud prevention and payment processing. A specialist supplier to the payments industry worldwide, ReD has over 21 years experience in the fraud prevention market. Its blue-chip international clients come from the global telecommunications, retail, travel, petroleum, banking and the broader e-commerce sectors. They include Air China, Comet, John Lewis, Singapore Airlines, Shell, Tesco Mobile, Chevron, T-Mobile, Virgin Mobile and Walmart.

The company has offices in Australia, China, South Africa, United Kingdom and United States, with representation in India, Korea, Japan and South America.

More information about ReD please visit: www.redplc.com

Contacts

SkyParlour Ltd
Angela Yore and Kimberley Waldron
Mobile: +44 7738 822956 & +44 77850 724 157
Email: angela@skyparlour.com & kimberley@skyparlour.com
or
Retail Decisions (ReD) Ltd
Carl Clump, CEO and Kami Boyer, Head of Global Marketing
Tel: +44 1483 728700
Email: ceo@redplc.com and kboyer@redplc.com

Payments Industry News Headlines Through March 26th

Introducing M-Commerce to Direct Selling Organizations BigNews.biz (press release) The introduction of M-commerce is no exception. Remember, sales consultants typically don't bring their computers with them to their parties

Is Google greater than God?

Zee News China Mobile Ltd, the world's largest telecom service provider with 527 million subscribers, uses Google for mobile search and maps.

Credit card fraud stats should make you nervous

Anchorage Daily News  It was followed by identity theft; credit/debit card fraud; auction fraud; computer damage; miscellaneous frauds; advanced fee fraud (the old Nigerian

Verizon Wireless Plans eCommerce Mobile Payment Service

PR Newswire (press release)  Danal, Inc. is a privately held, majority-owned company of Danal Co., Ltd – the global pioneer and leader in direct mobile billing for eCommerce.

iPad will revolutionise mobile commerce, says expert

Velti News  The world of mobile commerce will be revolutionised by the impending launch of the iPad, an industry expert has claimed. Apple's mobile internet browsing

CHARGE Anywhere(R) and Verizon Wireless Announce Mobile Payment Processing ...

PR Newswire (press release)  CHARGE Anywhere® is the developer of proprietary Payment Card Industry PA-DSS certified CHARGE Anywhere® v2.0.0 Mobile Payment/POS software solution

Verizon Will Allow $25 in M-Commerce

NewsFactor Network  In a move to build mobile commerce, Verizon Wireless on Monday announced a deal with Danal's BilltoMobile payment service. Beginning later this spring

Comparing online buying risks

Minneapolis Star Tribune  Payment services and bill payment: Using services like PayPal, Google Checkout and BillMeLater offer additional security because sensitive information goes

PayPal forges an alliance with China's largest payment card network

Hundreds of millions of Chinese consumers will be able to buy goods online from foreign merchants and pay through PayPal as a result of the agreement with China UnionPay.

New fraud alerts available for Wells Fargo cardholders

The News Journal  ... control identity fraud, a broader crime category that includes misuse of payment cards, according to James Van Dyke, of Javelin Strategy & Research

Credit card companies play security catchup

Stuff.co.nz  But a 20 per cent increase in credit card fraud in recent years particularly involving online transactions has prompted the move

DEUTSCHE TELEKOM BUYS CLICKANDBUY

Deutsche Telekom has agreed a deal to buy Internet payment service provider ClickandBuy. Financial terms were not disclosed.  More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21223

MasterCard, PayPal reveal conflicting views of mobile financial services

Mobile-Financial.com  The panelists included representatives from MasterCard, PayPal, First Data, and ClairMail. The panel was a lively one with different perspectives shared

Security flaw found in new chip credit cards

3News   A British university has identified security flaws in new chip and Pin credit cards that banks in New Zealand are about to introduce. ...

Mobile Commerce Trends 2010: Opportunities to Create New Revenue

TechLINKS (press release) ... 40% mobile phone penetration, it is easy to see that the opportunities for mCommerce and mobile money services will be from Asia's emerging markets.

FEATURED ARTICLE:

Regulating Debit Cards: The Case of Ad Valorem Fees

The Federal Reserve Bank of Kansas City's Economic Review for 1Q2010 includes an article titled "Regulating Debit Cards: The Case of Ad Valorem Fees" by Zhu Wang. From the abstract:

Debit cards have become an indispensable part of the U.S. payments system, accounting for more than a third of consumer payments at point of sale. With this development has come controversy: Card networks charge merchants fees that merchants believe are too high. And most of the fees are ad valorem―that is, based on transaction value―rather than fixed fees per transaction.

Given that debit cards incur a fixed cost per transaction, why do networks charge ad valorem fees? How do ad valorem fees affect payment market participants, including consumers, merchants, and card networks? And should policymakers consider regulating debit cards by requiring fixed per-transaction fees?

Wang explores this controversy about debit card fee structures. His analysis shows that, when card networks and merchants both have market power, card networks earn a higher profit by charging ad valorem fees than fixed per-transaction fees. At the same time, merchant profits are reduced―yet both consumer surplus and social welfare are increased. As an alternative, policymakers might consider regulating the debit fee structure simply by requiring fixed per-transaction fees (but allowing card networks to freely set the fee levels). Wang suggests, however, that this alternative may increase merchant profits at the expense of card networks, consumers, and social welfare. Therefore, caution should be taken when policymakers consider intervening in the debit card market."  

Payments Industry News Headlines Through March 26th

Introducing M-Commerce to Direct Selling Organizations BigNews.biz (press release) The introduction of M-commerce is no exception. Remember, sales consultants typically don't bring their computers with them to their parties

Is Google greater than God?

Zee News China Mobile Ltd, the world's largest telecom service provider with 527 million subscribers, uses Google for mobile search and maps.

Credit card fraud stats should make you nervous

Anchorage Daily News  It was followed by identity theft; credit/debit card fraud; auction fraud; computer damage; miscellaneous frauds; advanced fee fraud (the old Nigerian

Verizon Wireless Plans eCommerce Mobile Payment Service

PR Newswire (press release)  Danal, Inc. is a privately held, majority-owned company of Danal Co., Ltd – the global pioneer and leader in direct mobile billing for eCommerce.

iPad will revolutionise mobile commerce, says expert

Velti News  The world of mobile commerce will be revolutionised by the impending launch of the iPad, an industry expert has claimed. Apple's mobile internet browsing

CHARGE Anywhere(R) and Verizon Wireless Announce Mobile Payment Processing ...

PR Newswire (press release)  CHARGE Anywhere® is the developer of proprietary Payment Card Industry PA-DSS certified CHARGE Anywhere® v2.0.0 Mobile Payment/POS software solution

Verizon Will Allow $25 in M-Commerce

NewsFactor Network  In a move to build mobile commerce, Verizon Wireless on Monday announced a deal with Danal's BilltoMobile payment service. Beginning later this spring

Comparing online buying risks

Minneapolis Star Tribune  Payment services and bill payment: Using services like PayPal, Google Checkout and BillMeLater offer additional security because sensitive information goes

PayPal forges an alliance with China's largest payment card network

Hundreds of millions of Chinese consumers will be able to buy goods online from foreign merchants and pay through PayPal as a result of the agreement with China UnionPay.

New fraud alerts available for Wells Fargo cardholders

The News Journal  ... control identity fraud, a broader crime category that includes misuse of payment cards, according to James Van Dyke, of Javelin Strategy & Research

Credit card companies play security catchup

Stuff.co.nz  But a 20 per cent increase in credit card fraud in recent years particularly involving online transactions has prompted the move

DEUTSCHE TELEKOM BUYS CLICKANDBUY

Deutsche Telekom has agreed a deal to buy Internet payment service provider ClickandBuy. Financial terms were not disclosed.  More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21223

MasterCard, PayPal reveal conflicting views of mobile financial services

Mobile-Financial.com  The panelists included representatives from MasterCard, PayPal, First Data, and ClairMail. The panel was a lively one with different perspectives shared

Security flaw found in new chip credit cards

3News   A British university has identified security flaws in new chip and Pin credit cards that banks in New Zealand are about to introduce. ...

Mobile Commerce Trends 2010: Opportunities to Create New Revenue

TechLINKS (press release) ... 40% mobile phone penetration, it is easy to see that the opportunities for mCommerce and mobile money services will be from Asia's emerging markets.

FEATURED ARTICLE:

Regulating Debit Cards: The Case of Ad Valorem Fees

The Federal Reserve Bank of Kansas City's Economic Review for 1Q2010 includes an article titled "Regulating Debit Cards: The Case of Ad Valorem Fees" by Zhu Wang. From the abstract:

Debit cards have become an indispensable part of the U.S. payments system, accounting for more than a third of consumer payments at point of sale. With this development has come controversy: Card networks charge merchants fees that merchants believe are too high. And most of the fees are ad valorem―that is, based on transaction value―rather than fixed fees per transaction.

Given that debit cards incur a fixed cost per transaction, why do networks charge ad valorem fees? How do ad valorem fees affect payment market participants, including consumers, merchants, and card networks? And should policymakers consider regulating debit cards by requiring fixed per-transaction fees?

Wang explores this controversy about debit card fee structures. His analysis shows that, when card networks and merchants both have market power, card networks earn a higher profit by charging ad valorem fees than fixed per-transaction fees. At the same time, merchant profits are reduced―yet both consumer surplus and social welfare are increased. As an alternative, policymakers might consider regulating the debit fee structure simply by requiring fixed per-transaction fees (but allowing card networks to freely set the fee levels). Wang suggests, however, that this alternative may increase merchant profits at the expense of card networks, consumers, and social welfare. Therefore, caution should be taken when policymakers consider intervening in the debit card market."  

Google Checkout "Searches" for Way to Increase Adoption

Study: Google Checkout use slowing - DMNews

Google Checkout adoption is dropping.  Maybe they ought to start "searching" for ways to increase market share.  Maybe a globally patented PIN debit application from HomeATM would help...

The adoption of Google Checkout by online retailers is stalling, according to a study by interactive agency Rosetta.

The report states that 37% of 100 leading online retailers surveyed currently offer alternative payment methods, a 23% increase since November 2007.

Of those, Bill Me Later is most popular at 26%, with PayPal now nearly tied at 25%. Google Checkout showed a tiny increase from 10% in 2007 to 11%. Only 7% of the retailers examined offer all three methods.

“Even though it boasts high consumer confidence, Google Checkout is struggling in retailer adoption,” said Adam Cohen, a partner at Rosetta's consumer goods and retail practice, which conducted the study last month. “Adoption of the service started out very strong last year, but has stagnated in the last 12 months."

The discontinuation of incentives for retailers during the holiday season is likely to negatively impact Google Checkout adoption on an ongoing basis, he said.