China has edged out the US to become the premier country for cross-border e-commerce, according to a survey of shoppers worldwide by Ipsos and Paypal.
The third annual PayPal cross-border e-commerce report found that more than 20% of all online shoppers bought from Chinese websites over the last 12 months, compared with 17% for US websites and 13% for UK sites.
The most popular reason for using an e-commerce site in a different country was price. Over three quarters (76%) said that lower prices were a reason to make a cross-border purchase. Meanwhile 65% said product availability was also a major factor.
Free shipping and security were also key reasons for consumers to choose to shop internationally.
Read more on Card Not Present.
Australia’s antitrust regulator has ruled against the country’s banks, which were seeking to make Apple open up its iPhones to other mobile wallets.
The banks were hoping to offer their own digital payments apps on iOS devices and gain direct access to NFC technology on Apple devices.
The Australian Competition and Consumer Commission (ACCC) denied Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank, and several smaller banks permission to bargain together with Apple. The banks also wanted Apple to remove its requirement that fees it charges banks are not passed onto consumers.
ACCC Chairman Rod Sims said the decision was “finely balanced”.
Countries in Asia-Pacific, and Middle East and Africa (MEA) regions are showing the greatest growth in the number of card-accepting merchant outlets, according to new research from RBR.
The amount of card-accepting merchant outlets worldwide rose by more than 7 million in 2015, to 54 million, according to the report, Global Payment Cards Data and Forecasts to 2021.
In the Asia-Pacific region, the number of merchant outlets that accept customers’ payment cards has increased by 29% in 2015. Unsurprisingly, China came top in the region with it accounting for 4.7 million new card-accepting outlets during 2015.
The report said that Malaysia’s interchange fees reform has encouraged more merchants to start accepting cards.
Read more on PaymentEye.