Payments

Ecommerce giant Amazon and credit card issuer Visa are continuing to try to solve their dispute over payment fees. This means that payments with millions of credit cards will still be accepted. The announcement came two days before previously announced ban on Visa credit cards.

Online payment method PayPal is well-known within Europe, but the usage of PayPal in online stores varies between countries. In Italy, 93 percent of online stores offer PayPal as a payment method. On the other end of the spectrum, PayPal is only offered in 1 percent of Serbian online stores.

Amazon customers from the United Kingdom can now pay later for their orders through a partnership with Barclays, the British bank. The new payment service called ‘Instalments’ was already introduced in Germany last year. ‘Buy now, pay later’ is becoming increasingly popular in Europe.

Online marketplace Joom has partnered with Worldline by implementing its Russian Payments Solution. Retailers and customers in Russia will now have more payment options. In doing so, Joom wants to solidify its position in the Russian market.

Payment methods have been rapidly developing in recent years and the market has seen a lot of changes in 2021. Amazon Pay is an online checkout solution that lets customers use their Amazon information to shop on other sites. In an interview with Ecommerce News, Jenny Catterfeld looks back at achievements and to what the payments industry has to offer in the future.

Dutch payment service provider Buckaroo has been acquired by Keensight Capital for more than 150 million euros. The acquisition will be finalized in the second quarter of 2022. This is the third time that Buckaroo is sold.

'Buy now, pay later' (BNPL) is becoming increasingly popular. One in five UK consumers are planning to use these services during Christmas, to spread out the costs. But the increasing popularity has also caused an increase in outstanding debt amongst UK shoppers.

Amazon Pay, which lets customers use their Amazon information to shop on third-party sites, advises online retailers to set up Alexa Skills for their store. This could make checkout easier for customers by allowing them to use voice commands to complete their order.

The ecommerce giant Amazon is planning to stop accepting payments made with Visa credit cards in the UK, starting next year. Customers are being encouraged to change their default payment method. "We're very disappointed that Amazon is threatening to restrict consumer choice", said Visa.

Swedish fintech company Klarna has launched its 'buy now, pay later' service in Ireland today. Consumers can now pay in three interest-free installments at online retailers across the country. This expansion follows other news around Klarna, such as the company becoming the leading provider in its market.

Swedish fintech company Klarna has announced a partnership with Stripe, a global payments company. Retailers can now add Klarna to their payment methods. With Stripe's infrastructure, Klarna can now accept credit card payments from consumers in the US and Canada.

Amazon Pay, which lets customers use their Amazon information to shop on third-party sites, has introduced version 2 of its checkout technology. The upgrade enables a faster and more secure checkout. The modernized web checkout technology can replace existing Amazon payment and address widgets.

PayPal will raise the fees for payments between businesses in the United Kingdom and those in Europe. The reason for this price increase is Brexit. With the UK no longer being part of the European Economic Area, PayPal's costs are higher than usual.

Online retailers in Europe need to offer all kinds of payment methods if they want to reach as many customers as possible. Every country has its own preferences. Let's have a look at the preferred payment methods in Europe in 2021.

Online retailers in the UK lose more than 1.8 billion pounds (2.13 billion euros) annually due to the lack of payment methods available for their customers. This was discovered in new research amongst regular online shoppers.