Retail Solutions Briefs: Visa, Target, Aussie e-commerce
- 24 July, 2001 16:19
Australia the land of e-opportunity says studyAustralia ranks amongst the top 10 countries in the world for e-commerce potential, according to a study by the Meta Group.
The World E-Commerce and Internet Market Report found e-commerce prospects in Australia and New Zealand are looking very positive. "Both countries have literate, educated, technologically savvy "netizens" who are willing to [spend] money over the Internet," the report said. Australia was singled out for its literacy and education rates in keeping up with the new economy.
Visa globalises online authentication specsVisa International has announced the worldwide rollout of technical specifications designed to support payment authentication services for online credit card transactions while leaving retailers free to use their own mechanisms for processing payments.
The move puts a global spin on the authentication capabilities that Visa's US operations detailed last month.
Philip Yen, executive vice president of the e-Visa International e-commerce group, said the specifications are aimed at ensuring shoppers using Visa cards "have the same confidence on the Internet as [they do] in the real world".
One retail exchange urges US executive
"Stop the stupidity" - that's what Target's US vice chairman Gerry Storch dubbed his 75-minute keynote address at the Retail Systems 2001 conference in Chicago. During his speech, Storch urged his peers to push for the consolidation of the retail industry's business-to-business exchanges.
"There is no money to be made at all from a public sale of stock in any of these exchanges," declared Storch, a lead founder and board member of the WorldWide Retail Exchange.
However, some pundits argue it could take years for retailers to come together since the industry's four leading exchanges harbour major differences on issues such as governance, business models and technology.