"The value of collaboration in combatting fraud"

Thursday, 27th February 2014

Crossborder E-commerce published an article about the value of collaboration in combatting fraud.

"For merchants operating cross-border businesses, or looking to expand into new territories, fraud detection and prevention can be particularly challenging. Local market trends, geographic fraud hot spots and differences in consumer purchasing behaviours all mean that a successful fraud prevention strategy needs to be tailored for each individual sales area, based on a thorough knowledge of that location."

"While a specialist fraud prevention partner with relevant, up-to-the-minute market knowledge can help with this process, there is another high-value collaboration which can deliver real results for merchants in the fight against fraud. This is a collaboration between merchants and between merchants and issuers."

"Every payment transaction has a rich variety of data associated with it. Some elements, such as shipping address and device ID, are held by merchants, while other information, for example customer account information and purchasing history, is held by issuers. By working collaboratively and sharing this information, each interested party can see a more complete picture, both of the individual transaction and the broader customer profile. This information can support sales, power earlier detection of fraud and help to minimise both risk and chargebacks."

"Simply transmitting the data between parties is not enough. The real value comes from combining the raw data from these parties, analysing it, identifying areas of concern and proactively sharing the resulting fraud intelligence. For efficiency, some level of automation needs to be involved in the analytics process, ensuring that valuable fraud intelligence is shared in an easily accessible and timely way."

"There is clear evidence that sharing intelligence in real-time supports quick and effective action such as blocking compromised cards, cancelling recent orders, halting deliveries and refunding genuine customers before the chargeback process commences. As an example, a merchant user of theReD Fraud XchangeTMservice was recently able to use the information from shared red-flagged data to trace associated transactions and recover $50,000 of fraudulent spend."

"Sharing transaction information and fraud intelligence across multiple merchants and issuers in different geographies can also support effective cross-border sales, minimising risk for merchants who are looking to accept orders from overseas by helping to proactively inform their fraud strategies."

Cross-border trade faces still unresolved impediments - survey

Thursday, 27th February 2014

According to thisThe International Chamber of Commerce (ICC) has recently made public a survey which signals that governments and policymakers worldwide should pay attention to some existing hurdles in current cross-border trade which should be surpassed to facilitate the flow of goods across borders.

"The survey stresses a number of factors which cross-border transaction merchants look at, namely predictability, reliability and consistency. Based on the common opinion of 88% of the ones questioned, who are active in import and export or trade in services along with freight forwarding, transportation and third party logistics, the survey surfaces the fact that there is a need for greater capacity building, in particular through education and making information available, to ensure that both traders and border control officials follow proper international trading procedures."

"Additionally, it reveals that there is also a need for an effective customs-business dialogue at national level to find ways to lessen delays in trade processes and shorten release times. The mastermind behind the current survey is Anthony Barone, Head of ICC Commission, who wants to transform cross-border commerce into a day-to-day, free of impediments business."

"The survey is on the same footing with current international developments seeking to facilitate trade and border procedures. Some of the procedures conclude on multilateral agreement on trade facilitation at the 9th Ministerial Conference of the World Trade Organization in December 2013, and the ongoing negotiations of the Trans-Pacific Partnership Agreement, the Trans-Atlantic Trade and Investment Partnership and the Regional Comprehensive Partnership Negotiations."

Walmart's e-commerce turnover reached $10bn for the fiscal year 2014

Wednesday, 26th February 2014

Walmart�s e-commerce turnover reached $10bn for the fiscal year 2014 according to E-commerce Facts.

"Walmart�s 1.6% sales  increase was not impressive. The 30% increase in online sales, however, resulting in more than $ 10 billion turnover, that�s more than exiting news! And even more so as most of this revenue comes from outside the US, according to an article on The Multichannelmerchant. "

"Executive Vice President and CFO Charles Holley said that Walmart expects its electronic global sales to grow over $ 13 billion this year, with a strong emphasis on the United States , the United Kingdom , China and Brazil.  "Our sites in Canada and Mexico are beginning to gain even more customer traffic ," said Holley, who stressed that he wants to invest more in the global technology platform " Pangaea ", which supports overseas sales."

"David Cheesewright , head of Walmart International, said that this is the first quarter in which global sales from its acquisition Yihaodian are included . During the first three quarters of the year, Yihaodian contributed $ 730 million."

U.S. Department of Commerce and eBay Inc. Announce Partnership to Promote U.S. Exports and Trade

Wednesday, 26th February 2014

U.S. Commerce Secretary Penny Pritzker and eBay Inc. CEO John Donahoe announced a partnership to promote U.S. trade and investment expansion.

"The joint effort will focus on increasing awareness of the economic benefits of trade, specifically the important role that small and medium-sized enterprises (SME) can play in growing Americas export economy."

"In a globally-connected economy, American companies have to consider the entire marketplace as they look to grow their businesses and create jobs.The fact is, 95 percent of worldwide consumers live outside U.S. borders. Whether they are large or small, American businesses cannot afford to limit their options when it comes to selling their goods and services. The Obama Administration is committed to ensuring that SME exporters are aware of export opportunities and federal resources that are available to help them establish a foothold abroad, increase their exports, and support additional good-paying American jobs. We look forward to working with eBay Inc. to help Americas small and medium-sized businesses thrive at home and around the world.

"This partnership advances the Obama AdministrationsNational Export Initiative, an ambitious plan to sell more American goods and services into foreign markets. Working together, this agreement between eBay and the Department of Commerce will build out U.S. government export programs to provide more inclusive tools for technology-enabled traders and educate these businesses on export-focused products and services already available to them. "

"The MOA announcement comes after theU.S. Department of Commerce announcedearlier this month that U.S. exports in 2013 set a new record for the fourth straight year.U.S. exports reached $2.3 trillion in 2013, up nearly $700 billion since 2009. SMEs have played a critical role in driving record export growth.Yesterday, the Department announced that U.S. exports supported more than 11.3 million jobs in 2013, up 1.6 million jobs since 2009."

"In 2013, eBay Inc. enabled more than $45 billion in cross border trade commerce and payments.AneBay studyanalyzing trade flow data from eBays marketplace found that 97 percent of U.S. commercial sellers on eBay export. Of these small businesses, 81 percent export to five or more foreign countries."

Arecent PayPal/Nielson reportestimates cross-border demand for online retail of American products was worth $23 billion in 2013 and is expected to grow to $83 billion by 2018, creating a tremendous opportunity for small businesses and entrepreneurs across the world to tap into this demand.

MWC 2014: Asian telecom operators form NFC alliance

Wednesday, 26th February 2014

According to this, Asian telecom operatorsChunghwa Telecom(Taiwan),HKT(Hong Kong),KDDI(Japan) andSK Planet(South Korea) have jointly announced the formation of the Asia NFC Alliance, with the support of theGSMA.

"The Alliance aims to promote cross-border mobile NFC services.The Asia NFC Alliance aims to extend the service coverage of these mobile operators from within a country to the whole Asian region and furthermore to provide global mobile NFC services across industries, including transportation, retail, finance, tourism and others. Subscribers are set to be able to access NFC applications across national borders, whether in Taiwan, Japan, Hong Kong, South Korea or other countries in the future."

"In December 2013, HKT has partnered with banking consortium JETCO to expand NFC-based mobile payments services."

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