Internet Retailer Releases 2009 Guide to E-Commerce

Research On E-Commerce Vendors From the Authority in E-Retailing

Buying E-Commerce Technology in 2009? Buy This First! Next year will be very competitive in e-retailing. Who isn’t trying to expand their share of this market—the only growth segment in all of retailing. But as online merchants look to be more competitive in 2009, they are going to employ more robust e-commerce solutions and services to capitalize on the spectacular growth of online retailing. Trouble is, there are now more than 700 e-commerce solutions vendors and service providers. How do you pick the right ones for you that make the most of your investment? It is a difficult and high-stakes proposition. Now there’s a way to vastly simplify and empower your search for e-retailing technology and services—our just published 2009 Edition of the Guide to E-Commerce Technology, a 368-page directory from Internet Retailer, e-retailing’s leading information provider. Priced at only $59 plus shipping, this all-new Guide provides valuable independent research on e-retailing solutions providers you will not find anywhere else—the results of six-month's journalistic study of all segments of the e-commerce technology market. In this comprehensive report, you will find completely updated details and all new staff-written profiles of 700 providers of e-commerce technology and services organized into 22 market segments. These are not paid listings provided by e-commerce vendors but rather independently researched profiles of the leading e-commerce vendors. Each vendor profile includes the following new and updated information: Strategic Analysis of Their Business Description of Products/Services Primary Technology Category Key Management Contacts Date Established List of Major Retail Clients Typical Pricing of Products/Services Key Features and Functions Corporate Information URL In addition to this key information on all 700 e-commerce vendors, the Guide to E-Commerce Technology includes the following up-to-the-minute analysis and data on the e-commerce product and services market: Comprehensive overview of the current and future state of web retailing technology and the strategies top e-retailers are using to improve their return on technology investment. Five all-new feature articles by top consultants on how to select technology providers and applications that are right for you, choose between on-demand or off-the-shelf applications, develop and manage a growing e-commerce technology infrastructure, and use customer feedback to implement new technology effectively. Focused analysis on key emerging technologies such as video, advanced personalization and mobile commerce. An exclusive survey of e-retailer plans for e-commerce technology spending in 2009 and beyond Contact data on 1,800 top executives at America’s most prestigious e-commerce solutions companies—all organized by company into an easy-to-read guide Details on more than 30 e-commerce technology reports by key research firms Synopses of 100 books on e-retailing strategy and technology. Even if you purchased the 2007 edition of this Guide, the completely updated and new information contained in the 2009 Edition Guide to E-Commerce Technology makes it an essential research tool for e-retailers looking to be more competitive in 2009 and beyond. How to Order: All this research on e-commerce vendors is available in one 368-page volume for only $59 plus shipping. Supplies of the Guide to E-Commerce Technology are limited but can be ordered online now.

Related articles by Zemanta

• An Overview of E-commerce Website
• Who's Afraid of the Big Bad Web?
• In April of this year, consumers spent a staggering 85% more online that in the previous year
• Top UK Retailer Pins Hopes on Web
• Ireland's E-Commerce Predicted to Grow 50% from Last Year
• Online marketing results in click-to-brick purchases
• Retail Systems Research Report on eCommerce

USA most Hacktive - China Second

Study: Vast number of cyber attacks 'Made in the USA' • The Register

By Dan Goodin in San Francisco
Posted in Security, 23rd September 2008 03:48 GMT

When it comes to cybercrime, Eastern Europe, China, and Brazil may get the lion's share of press attention, but a new study shows a vast proportion of attacks come from computers in the United States.

Security firm SecureWorks has counted 20.6 million attacks against its customers that originated inside US borders so far this year. China ranked No. 2 on the list with 7.7 million, and Brazil and South Korea came in third and fourth, with 166,987 and 162,298 respectively. The study, which was released Monday, is a strong indication that there's no shortage of compromised computers on US soil.

The findings have important implications for organizations trying to fend off denial-of-service attacks and other net-based assaults. Namely, that they need to be aware of the threat that US-based machines pose. In August, after Russia invaded the Republic of Georgia, many Georgian IT staff members sought to secure their networks by blocking Russian IP addresses. They ended up getting clobbered anyway because they failed to block hostile computers from Turkey and the US, said Don Jackson, SecureWorks's director of threat intelligence.

Whereas many of the compromised machines in the US are under the control of people outside of the country, that is not generally the case in China. Entire university networks in that country remain under the control of hackers there, often with the help of insiders. Miscreants in Japan and Poland use much the same approach.

In related news, Chinese hacktivists have begun defacing the websites of several companies involved in the distribution of tainted milk. According to this post on the Dark Visitor blog, targets include the Sanlu Milk Company and the Mongolian Milk Corporation.

"When an infant with kidney stones lies weeping in a hospital bed, can the factory owners intuitively sense the condemnation?" one defacement reads. "In order to gain profit you have gone so far as to devastate these young lives!"

The defacements are designed to protest the shipping of baby formula containing melamine, a toxic chemical used illegally to make the milk appear it has more protein - and hoodwink food testing agencies. ®

Related articles by Zemanta

• Study: Vast number of cyber attacks 'Made in the USA'
• If You Want a Faster Internet Connection, Move to Delaware, Akamai Report Says
• China and U.S. lead in Internet attacks
• Akamai Releases State of the Internet Report

Worlds Fastest Internet Belongs Seouly to S. Korea

Web boom in English-obsessed Korea on Yahoo! News

By Park Ju-minMon

Armed with the world's fastest Internet and an even stronger desire to learn English, South Koreans are using the latest Web resources to master a language that is the economic and emotional focus of their education.

On any given day, students ranging from kids learning their alphabet to adults preparing for job interviews sign in on their Internet messengers, fire up their webcams and wait for English teachers to appear -- from faraway continents.

They hope one-on-one chats with foreigners will help them fix pronunciation, get rid of native accents and feel more comfortable with a foreign language. The country's official teaching methods, based on grammar exercises and vocabulary lists, have consistently failed to deliver such benefits.

South Korea's average score in the Test of English as a Foreign Language (TOEFL) is below the world average despite having the largest number of students taking the test.

"It is really nice to look at my English teacher through the computer screen and feel like having a chat with a new friend outside the country," said Oh Sun-young, who takes a Web-camera English course on Skype with her Philippine instructor.

Web English is the latest hit in South Korea's booming English education market, enabled by handy gadgets and widespread fiber-optics networks.

The new service, along with more traditional conversation courses offered by phone, is one of the fastest growing segments in South Korea's private English education industry, which is estimated at 15 trillion won ($13 billion) a year -- almost half of the country's annual education budget.

About 150 to 200 companies are in the market offering phone and Web English tutoring.

"Students who are very inexperienced with English may initially find the classes challenging, but within three months, there is a tremendous improvement in most of the students' speaking ability," said Tara McKibben, a phone English tutor who has been teaching over seven years from the United States.

KT Corp, South Korea's dominant fixed-line and broadband operator, provides a service called "Hello ET" cooperating with a South Korean English education company.

"We provide Web-cameras to our videophone English customers so that they can log on the website and have live chat with instructors," said Kang Joo-hyun, a "Hello ET" spokeswoman.

One-on-one conversation in English is technically close to real-live talk, held in Web phone service such as Skype. A message board opens adjacent to the conversation browser, so that participants can check the spelling of a word or start writing if they struggle to understand each other.

Internet portal SK Communications runs "Spicus" which includes a job interview drill on a video-chat platform. Applicants hand out their completed English resume before the drill. An interviewer stages a simulation interview through webcam, looking through resumes, and later provides feedback on logical speaking and communication skills.

"Interviewers are former officials in human resources department of big U.S. (companies) such as IBM," Ryu Hee-jo, a spokeswoman for SK Communications, said.

CHEAP AND CREDIBLE

Good English test scores and speaking skills are considered an indispensable key for success in South Korea. In their quest for fluent English, a great deal of wealthy South Koreans simply flee their country's school system and its rigid teaching methods.

South Korea ranks No. 1 in the number of international students in the United States, ahead of more populous India and China, according to U.S. Student and Exchange Visitor Information System.

However, for those who cannot afford thousands of dollars a month in learning English abroad or spare time for look for meeting arrangements, video chat at home fulfills their aspiration at much cheaper prices. A three-times-a-week Web English course can be covered for about 100,000 won a month.

($1=1151.0 Won)

(Editing by Rhee So-eui and Derek Caney)

Related articles by Zemanta

• Elite Korean Schools, Forging Ivy League Skills
• Study: Vast number of cyber attacks 'Made in the USA'
• Asian stocks fall on uncertainty over U.S. bailout

The First Credit Cards - A Quick History

Found this article in iafrica.com and thought it interesting. I especially got a kick out of Henry Fonda's Texaco Credit Card from 1953 pictured on the right.

iafrica.com |The history of credit

The History of Credit

Article by FNB and VISA

To know where you are going, it is important to know where you have been. With the increasing use and acceptance of plastic money in the form of debit, credit and pre-paid cards, as well as the growing global movement towards a cashless society, we investigate the history of the card and offer insights into where the industry is heading.

Credit was first used in Assyria, Babylon and Egypt 3000 years ago. The bill of exchange — the forerunner of banknotes — was established in the 14th century. Debts were settled by one-third cash and two-thirds bill of exchange. Paper money followed only in the 17th century.

Christopher Thornton, offering furniture that could be paid off on a weekly basis, placed the first advertisement for credit in 1730. From the 18th century until the early part of the 20th, tallymen sold clothes in return for small weekly payments. They were called 'tallymen' because they kept a record or tally of what people had bought on a wooden stick. One side of the stick was marked with notches to represent the amount of debt and the other side was a record of payments. In the 1920s, a shopper's plate — a 'buy now, pay later' system — was introduced in the USA. It could only be used in the shops that issued it.

The first charge cards

In 1950, the first 'plastic money' — charge cards — were issued in the USA, followed in the next year by the arrival of the first-ever credit cards issued to 200 consumers who could use them at 27 restaurants in New York. But it was only until the establishment of standards for the magnetic strip in 1970 that the credit card became part of the information age.

Since the introduction of bank cards in the early 1950s, the global acceptance and use of this form of payment system has grown exponentially. Today there is even a word for the study of money-like objects, such as credit cards, namely exonumia.

Exonumiasts collect any form of money — from the now familiar plastic cards to older paper merchant cards and even metal tokens that were accepted as early merchant credit cards. The first credit cards were made of celluloid and then metal and fibre, then paper and are now plastic.

Within the first seven years 5-million credit cards circulated in the US

Payment cards are a relatively recent development. Visa, for example, traces its history back 50 years to 1958 and within the first seven years 5-million credit cards circulated in the US.

Long before the first credit cards were issued, a visionary of the 19th century wrote that a cashless society, using credit cards for purchases, would exist at the end of the 20th century. Falling asleep in 1887, the narrator of Edward Bellamy's novel Looking Backward, published in 1888, wakes in the year 2000 to an America whose problems have been solved by getting rid of buying and selling.

Instead, 'A credit corresponding to his share of the annual product of the nation is given to every citizen on the public books at the beginning of each year, and a credit card issued him with which he procures at the public storehouses, found in every community, whatever he desires, whenever he desires it.' Bellamy's credit card is actually more similar to what we would call a debit card — one that draws from an established account.

The credit card was the successor of a variety of merchant credit schemes following the development of store-specific metal charge cards in 1928. These cards continued the system of extending credit to favoured customers and in 1938 several companies in America started to accept each other’s cards.

Early charge cards did not possess the key feature of modern credit cards: revolving credit, which allows cardholders to pay balances over time, while simultaneously charging new amounts. There are now countless variations on the basic concept of revolving credit for individuals, including organisation-branded credit cards, corporate-user credit cards and store cards.

The growth of credit cards has had an enormous impact on the global economy

The growth of credit cards has had an enormous impact on the global economy, changing buying habits by making it much easier for consumers to finance purchases.

Advances in technology have facilitated the use of credit cards. Merchants are now connected to banks electronically, so purchases are approved rapidly; online shopping on the Internet is possible with payment cards.

An alternative to credit cards is the debit card, which deducts the price of goods and services directly from customers' bank accounts. The design of the card itself has become a major selling point in recent years. Since the value of the card to the issuer is related to the customer's use of the card, there has been a rise of co-brand and affinity cards, leading to higher card use. In most cases, a percentage of the value of the card is returned to the affinity group.

The introduction of the latest in Visa chip card and contactless technology is bringing about the next evolution in plastic cards. Transactions are not only easier and more convenient, but may feature increased security as the card never leaves the holder's hand. Editor's Note: I don't know about that statement. RFID, by some accounts, may have a major security flaw enabling fraudsters to intercept the wireless transmission of the radio frequency waves. Doesn't have to leave the pocket. I've read reports that indicate the card information can, ironically, be "swiped" while it's sitting in the consumers wallet.

This cutting edge technology has an application beyond just banking and the functionality chip cards offer holds much potential for the card industry. The amount of storage space and the processing power of the chip card may allow various forms of information to be stored and utilised, such as biometric and personal contact info. These advances may likely contribute to making the concept of a cashless society a reality and also make the idea of having a single card for everything you need a realistic possibility.

While we still have some way to go before reaching Bellamy's vision of a cashless society, the rise of plastic money has put payment cards in nearly everyone's hands and it certainly looks to be a pivotal mechanism in the future of payment.

Related articles by Zemanta

• Canada Going the Way of Chip and PIN
• Convenience and Security Boost Payment Card Industry
• HomeATM's "PIN my Card" Solves Chip and PIN Problems
• 3D Secure uptake soars to 25 million

UK Cardholders Flock to Secure Their Online Payments

September 23, 2008 by Gill Montia

Story link: Cardholders flock to secure online payment methods

UK payment services association, Apacs, has reported a major increase in the volume of credit and debit card holders taking advantage of measures that can prevent online shopping fraud.

According to Apacs, over 25 million cards are now registered with secure online payment systems, Verified by Visa and MasterCard SecureCode. Cardholder registration in August was up 150% over the year and had increased by nearly 600% on August 2006. The process of signing up is simple and can be completed on the websites of card providers.

The schemes offer enhanced protection against the unauthorised use of a card and provide state of the art online security without the need for additional software.

Online shopping card fraud was estimated at £223.8 million in 2007, when it formed around 77% of total card-not-present fraud losses in the UK. Last year’s figure was up from 45% from 2006, when Internet fraud losses stood at £154.5 million and accounted for 73% of total card-not-present fraud losses.

Related articles by Zemanta

• Secure online payments systems surge in popularity
• Online Consumer Payments Report Available
• Net shoppers bullied into being Verified by Visa
• Phishers bait hook with Verified by Visa scam

Unembossed Cards Supported by Visa

Visa today announced that it will begin supporting the issuance of "unembossed" cards in the U.S. for Visa consumer debit, business debit and consumer credit cards. Unembossed payment cards feature printed personalized information, such as the account number and cardholder name, rather than embossed with raised lettering currently found on most U.S credit and debit products.

By changing the Visa U.S.A Inc. Operating Regulations to allow the issuance of unembossed cards, Visa is providing more choice, flexibility and value for issuers and their cardholders. The move follows a series of successful pilot tests with a dozen U.S. financial institutions, including Commerce Bancshares, Inc., TD Banknorth and United Heritage Credit Union.

"Being able to instantly provide members with Visa cards has helped us drive activation, usage and loyalty while reducing costs," said Michael Ver Schuur, executive vice president at United Heritage Credit Union, which participated in a pilot program testing the unembossed Visa cards. "Not only that, our cardholders felt secure receiving their cards directly at the branch and enjoyed the ability to access their accounts conveniently right away."

Traditional embossed cards typically require lengthier production times and more complex supply chain management. Because the cards have to be created offsite, they are generally shipped to the cardholders days after enrollment, leaving the new cardholder unable to make purchases or conveniently access cash at ATMs in the interim or relying on a temporary generic card. The ability to provide personalized printed cards instantly at the bank branch enables cardholders to take advantage of their cards immediately.

Visa has permitted unembossed prepaid cards in the U.S. since 2005. The new regulations give issuers the ability to also issue a consumer debit or credit card as well as a business debit card immediately to customers, giving them greater flexibility to manage their Visa card distribution methods to best fit their business needs."Visa is always looking for ways to bring more value to our clients and their cardholders," said Stacey Pinkerd, Head of Global Consumer Debit Products, Visa Inc. "By allowing the issuance of unembossed cards, we enable issuers to choose the distribution method that best meets their business needs, while offering customers greater flexibility and customization. Looking ahead, we will continue to innovate to provide products that meet financial institutions' demand for flexibility and cardholders' demand for convenience and security."

Visa unembossed cards are accepted by most Visa merchants, with the exception of those who require a manual imprint at the point of sale such as with an old-style "zip-zap" machine, and can be used for purchases made online, by mail or by phone.

Related articles by Zemanta

• Interact Prophecizes on the Making of a Profit
• Interchange, Duopoly's and Politics...Oh My!
• HomeATM's "PIN my Card" Solves Chip and PIN Problems

More on the Tealeaf/Harris Interactive e-Commerce Poll

Intolerance for online transaction issues jumps among British consumers in 2008

Intolerance for online transaction issues jumps among British consumers in 2008

Survey highlights £11.9 billion revenue opportunity for GB businesses that focus on improving online customer experiences.
An independent annual survey into online consumer behaviour conducted by Harris Interactive, and commissioned by Tealeaf highlights an increasingly unforgiving attitude towards online sites.

The study reveals that nearly 9 out of 10 British online adults (89%) who have conducted transactions online in the past year have experienced problems. Of those who have experienced problems, nearly half (49%) say they would abandon their transaction entirely or switch to a competitor (either online or offline) if they experienced a problem, a significant increase of 12 percentage points in just one year (37% in 2007). The 2008 rate of abandonment suggests that £11.9 billion in revenue could be affected by issues on shopping sites alone -- a huge opportunity for companies to harness, by ensuring their websites work. On the Web, the competition is a click away.

The ecommerce sector is buoyant in the UK, with shoppers spending over £26.5bn online in the first six months of 2008 (up 38% on 2007). Remarkably, the Tealeaf survey also found that, among all online adults in Great Britain, general preference for conducting business online (52%) has surpassed preference for conducting business in-person (41%) by more than 10 percentage points.

Simultaneously, expectations for online experience are also high. A full 87% of all online adults believe there is no reason why an online transaction cannot be completed first time, and 90% of those who have conducted an online transaction in the past year expect the same, or better, levels of customer service online as they do offline.

In addition to losing customers to the competition, companies that fail to provide high levels of online customer experience will likely see their reputation suffer as a result. Online transactional problems may lead to negative feelings towards companies -- 83% of online adults who experience problems conducting online transactions say they feel frustrated when they experience problems. The effect of this can be far-reaching, with 77% sharing their experience with others and with more than half (53%) telling their friends and family specifically in order to discourage them from using that website or doing business with the company. Of those sharing their experiences, 56% use online channels to share complaints or reviews. Unlike one-on-one conversations with friends or family, these digital conversations can be viewed by millions and live online indefinitely, therefore amplifying their impact.

Related articles by Zemanta

• 41% of Online Shoppers Click "Bye" vs. "Buy"
• Online retailers failing on customer service

Skim Scam

The Calgary Sun - New debit scam caught on video

They're a scourge to society and nefarious PIN pad peekers are nothing if not inventive.

A surveillance video recently obtained from an Airdrie convenience store shows a startling debit fraud scam far more sophisticated than so-called "shoulder surfing" and skimming machines, prompting the RCMP to warn retailers and customers alike.

"We're in a constant race, along with the banks and the financial institutes, to defeat what they're doing next ... this is an advancement for the criminals," Sgt. Patrick Webb said yesterday.

The footage, dated Sept. 11, shows three men entering the store just before closing time -- two acting as lookouts and distracting the clerk, the other covertly inspecting the business' PIN pad.

A fourth suspect, a woman, enters and uses a bag to shield the PIN pad from the retailer's view -- and ultimately, the man at the counter swipes the store's device and replaces it with a dummy pad.


It's a scheme likely to give crooks access to information from dozens of debit cards from a single retail location in just one day, said Const. Lane Menard of the RCMP's commercial crime section.

"Now that they've taken this pad, they go to a separate location, open it up and place some technology inside that allows them to copy the information from swiping your card, as well as a transmitter where they can receive all that information," said Menard.

"They will return the next morning with that original PIN pad, take their covert one and everything functions, and we're none the wiser."

In the case captured on video, a customer visited the store shortly after the card-swiping quartet departed and, when the debit pad didn't work, the retailer promptly notified authorities.

Mounties determined the dummy pad was actually stolen from Surrey, B.C., merely a day before.

In 2006, 119,000 debit cards in Canada had information lifted -- a small percentage considering the millions in circulation.

But, Menard said store owners should secure their PIN pads or keep them out of reach, while consumers should check their accounts for any

Related articles by Zemanta

• Debit Card Growth/Preference is Global
• Retailers protest hidden credit card fees
• What you risk by using debit card at the pump
• Credit card companies open new retail horizons
• $1M stolen in debit-card fraud: Que. police
• Alberta RCMP looking for high-tech debit card skimmers
• More On Effects of Using Debit Cards to Pay at the Pump
• Criminals hijack terminals to swipe Chip-and-PIN data
• Broke cashier let thieves install card skimmer

PaymentsSource Webinar Available for Public Viewing

Last week I posted "PaymentsSource Webinar Review" about attending a webinar on a new online publication coming out from SourceMedia they call "PaymentsSource."

SourceMedia publishes American Banker, Bank Technology News, ATM & Debit Card news and more.

If you would like to view a replay of the webinar you can click below:

Related articles by Zemanta

• Payments Source Webinar Review
• 2008 Debit Issuer Study Released by Pulse
• HomeATM's "PIN my Card" Solves Chip and PIN Problems

Top UK Retailer Pins Hopes on Web

eMarketer reports that the John Lewis Group, UK's leading store group saw online sales grow at a 30% clip while the groups department store physical locations saw a 34% drop in operating profit...


Top UK Retailer Pins Hopes on Web - eMarketer

Top UK Retailer Pins Hopes on Web
SEPTEMBER 19, 2008

Karin von Abrams, Senior Analyst

On September 11, John Lewis, the leading UK store group, announced a 27% fall in pretax profits for the first half of 2008.

Earlier this year, the company said it hoped to avoid the worst effects of the impending recession thanks to its loyal customer base, the opening of several new stores and significant diversification into Internet selling.

That hope in Internet sales may be well-placed. Retail e-commerce sales in the UK are predicted to reach £44.9 billion ($80.8 billion) in 2012, up from £19.5 billion ($38 billion) in 2008, according to Verdict Research data cited in Internet Retailing.

UK Retail E-Commerce Sales, 2002-2012 (billions of £ and % of total retail sales)

eMarketer estimates that B2C e-commerce in the UK will reach £94.2 billion ($169.6 billion) in 2012, up from £59.8 billion ($116.6 billion) in 2008.

Verdict's figures are significantly lower than eMarketer's because Verdict excludes air travel and tickets from its estimates, whereas eMarketer includes them. Verdict also gathers data from UK adults only, while eMarketer estimates include online sales to UK residents ages 14 and older.

The John Lewis group, owned as a cooperative by its employees, made pretax profits of £108 million ($191 million) in the six months to July 26, 2008, said a spokesman. Sales overall rose 3.6% to reach £3.27 billion ($6.38 billion).

The company's physical stores are bearing the brunt of the economic storm.

Operating profit at the group's department stores was down 34%, and at its Waitrose supermarkets—considered pricier for consumers than other major grocery chains—operating profit fell 8%. Price cuts and promotions, designed to appeal to worried shoppers, accounted for much of this loss.

But the group's Internet ventures continued their recent robust performance, strengthening hopes that online shopping will help John Lewis come through the current downturn in good shape. During the first half of 2008, online sales rose a healthy 30%.

Related articles by Zemanta

• Online sales boom as shoppers desert high street
• Grim warning for high street as John Lewis profits dive
• Profits fall sharply at John Lewis
• UK Experiences Online Purchase Growth in Diverse Areas

Irish e-Commerce Retailers Daily Sales Rise

SiliconRepublic.com: Irish retailers are selling €12m a day online - Business

Irish businesses are now selling up to €12m in goods and services online every day, an e-commerce strategist has claimed.

Ennis-based e-commerce strategy company Magico.ie said that while traditional retailers are facing a downturn, online retailing is on track to break new records.

Paul McGurran, director of e-commerce at Magico.ie, said that despite the current economic climate, “online retailing” is still very much in growth mode compared to traditional high-street retail activity.

“Although traditional high-street retail activity is suffering a downturn, internet sales in Ireland are likely to smash all previous records this year as more and more drop the high street for the information super-highway.

“For example, according to Realex Payments, peak online sales in Ireland reached €12.7m on 4 December 2007 last year, declining to €7.3m in subsequent days during the Christmas period. In 2008, average daily web sales in Ireland are now exceeding €12m per day’.

McGurran pointed to recent research in the UK showing that internet sales will continue to grow and the web channel will claim more than half of the retail market pie by 2026.

“This increase in online retail activity is being stimulated by numerous factors, including greater broadband penetration across Ireland and time-poor and price-conscious consumers.

“Furthermore, the rising price of fuel is the main reason behind consumers’ inclination towards web shopping, with users spending an average of 1.6 hours each week buying on the internet,” McGurran added.

Magico.ie was established in 1999 and currently employs 13 people at its headquarters in Ennis, Co Clare. Its current client base includes Fujipix.ie, The Bag Shop, Smyths Toys, Irish Auctioneers & Valuers Institute, Evergreen Healthfood, Munster Rugby Supporters Club, Freshways Sandwiches, Sisk Builders and Fitzpatrick Design Hotels.

The Magico.ie team consists of industry experts who have worked on large Irish and overseas ICT projects with partners such as IBM, Microsoft, Tesco.com, Ireland Online, Bank of Ireland Asset Management and many more.

Retailers wishing to develop an ecommerce Strategy are being invited to attend an e-commerce Seminar from 7-9pm at The Morgan Hotel, Templebar, Dublin on 15 October 2008. For more information go to www.magico.ie

By John Kennedy

Related articles by Zemanta

• Ireland's E-Commerce Predicted to Grow 50% from Last Year
• Best Global Brands survey: Top 100
• How Decoupled is The Innovation Economy From Rest of The Economy?
• Google leaps, Microsoft drops in brand value

2B or not 2B? That be "B2B" says American Express.

American Express Views B2B Model as Lower Risk, Higher Returns than Consumer Segment

From an article posted on Commercial Payments International.com the global resource for commercial cards and payments professionals. To subscribe to their weekly newsletter, click here or the graphic to the right.

American Express emphasized its growth and opportunities in the B2B segment at a recent investor presentation. It stated that the B2B model has lower risk, higher returns, higher growth and is more geographically diverse than the consumer model. This was proven by a review of recent results posted by American Express.

In Q2 08 the B2B businesses of American Express generated 31% of its net revenues but delivered 55% of its net income. For all of 2007 these numbers were 29% and 38% respectively.

Source: American Express

The global commercial card product alone billed $122 billion in spend last year across 36 markets. The B2B model also has less of a dependence on the US market, generating 55% of its revenue from this developed market vs. 75% for the consumer segment. In difficult economic times as the US is now experiencing fluctuations in the B2B business will not impact American Express' results as much as those on the consumer side.

Other key indicators, such as ROC and ROE are also more rewarding from the B2B business. For one year the segment ROC was 48% for global B2B against 33% for global consumer. In Q2 08 this showed even a larger disparity with B2B still at 48% compared to 22% for consumer. ROE for the most recent year was 44% for global B2B and half of that, or 22%, for global consumer.

CAGR for the global B2B business was 11% from 2005 – 2007. Specific segments are delivering more of this growth with the corporate card middle market growth above or close to 20% since 2004.

American Express is concentrating on three main strategies to help it sustain B2B performance levels. The first is to penetrate new high growth areas such as B2B payments and emerging markets.

Its second key strategy is to expand its distribution footprint through its proprietary sales force and partner set. The third is to add new products and services through strategic investment and acquisitions.

In 2008 American Express invested in Concur and purchased the GE Corporate Payment Services business. (see related article below)

Related articles

• Amex Views B2B Model as Lower Risk, Higher Returns than Consumer Segment
  
• HomeATM's "PIN my Card" Solves Chip and PIN Problems
• MasterCard Pays $1.8 Billion to American Express
• G.E. Sells a Corporate Credit Unit to American Express
• American Express profit falls 37% on defaults

Mexico to be Major Growth Market for Corporate Cards

Mexico Expected to be a Major Growth Market for Corporate Cards

Commercial Payments International reports on the growth of Corporate Cards in Mexico:

Until recently corporate cards in Mexico were limited mainly to senior executives of very large companies. Several changes in this market have occurred recently indication that the Mexican corporate card market is poised for rapid growth:

• Increasing numbers of mid-sized corporates and SMEs have begun to use some type of corporate payment cards
• Petrol stations only recently began to accept cards for payment
• The increased desire for visibility into corporate spend
• The introduction of prepaid cards which have been successful as salary cards in a market with a large unbanked population.

Currently only four banks and American Express issue corporate cards in Mexico. In early 2008 Citibank, one of the leading global issuers of corporate cards, announced its plans to introduce new corporate card services in Mexico which will improve procurement process efficiency. Through its subsidiary Banamex, Citi already has over 150 corporate clients and have experienced a CAGR of 102% since 1999 indicating the significant opportunity in the market.

Related articles by Zemanta

• MasterCard Pays $1.8 Billion to American Express
• Mexico to be Major Growth Market for Corporate Cards