Malaysia: infrastructure is key to ecommerce expansion - report

Saturday, 26th July 2014

Malaysia’s B2C ecommerce infrastructure is one of the most developed in South East Asia and it is one of the factors which add value to the ecommerce business.

"Therefore, internet penetration, which receives incentives via governmental programs, ranks second in the region, and its logistics system is among the 30 best performing in the world. Close to 20 million people are linked to the internet and an additional 5 million are expected to go online in 2015."

"Moreover, a notable double-digit percentage of internet users shop online, motivated by price advantages, product range and availability of reviews. Online shoppers look for free shipping, convenience and exclusive online deals offered by online stores."

"Additionally, online shopping is encouraged by new ecommerce regulations adopted in 2013, aimed at protecting consumer rights and preventing online fraud."

More info here.

Ecuador bans Bitcoin, seeks to create state-run currency

Friday, 25th July 2014

The National Assembly of Ecuador (NAE) has banned Bitcoin and decentralized digital currencies, while establishing guidelines for the creation of a new, state-run currency.

"As such, the law in question allows the government to make payments in e-money, but decentralized digital currencies are banned."

"The currency will operate in tandem with the USD and Ecuador’s official currency, although it is not certain what exchange rate will be established."

"As a result of the adoption of a national digital currency agenda, companies offering digital currency services will have to withdraw from operations or cease entirely, as the bill prohibits the “emission, production, initiation, falsifications, or any other type of [digital currency] simulation, and its circulation through any channel or way of representation” of non-sanctioned digital currencies.

"The amendments laid out the legal framework for those who violate the ban, which establishes the power to confiscate Bitcoins or similar holdings. Those who operate businesses using prohibited digital currencies face the risk of prosecution as well."

More info here.

US: 40% of people use m-wallets as primary payment method - report

Thursday, 24th July 2014

40% of the US mobile wallet users recently surveyed say they use mobile methods as their primary mode of payment.

"Consumers agreed (69%) that they would convert to mobile payment methods if merchants were to offer discounts specific to purchases made via mobile wallet."

"Men and women are almost equally likely to use a mobile wallet and users span all income levels, the survey also found. Those making less than USD 50,000 a year (32%) and those earning more than USD 100,000 (29%) are the most likely to use a mobile wallet. The majority are aged 18 to 34 (55%), while 35% are aged 35 to 54."

"The most popular mobile payment methods among smartphone payers are bar codes and quick response (QR) codes, which consumers simply display on their device so cashiers can scan them (45%)."

"37% of smartphone payers tap their device on a payment reader using near field communication, while 29% of smartphone payers scan the barcode or QR code using the device’s camera."

More info here.

Globally, 3 in 10 customers distrust retailers to protect data

Wednesday, 23rd July 2014

On a global level, there is a feeling of distrust among consumers in retailers to protect their data.

"Nearly 3 in 10 global consumers to not trust retailers for protecting stored personal and financial data against hacking attempts and data breaches. That is a 29% ratio, while 58% trust financial institutions rather than retailers, government agencies and law enforcement for data security."

"Only 55% of respondents believe stores where they shop use security systems that protect their financial data against hackers and data breaches, as compared to 62% who believe that online shopping websites do provide security for this information."

"4 in 10 global consumers (42%) do not remember receiving any anti-fraud information from their financial institution. Also, theft by a computer hacker is still believed to be the greatest fraud risk, according to 32% of respondents."

"China and India present the highest rates of prepaid card fraud at 17% and 18%, respectively, and very high consumer use rates at 93% and 91%, respectively."

"In countries with use rates of 70% or less, such as Australia, Canada, New Zealand and the US, fraud rates are 4% or less, indicating that the fraud rate may rise as more consumers use prepaid cards."

More info here.

The era of data-driven marketing [Infographic]

Wednesday, 23rd July 2014


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