Ingenico reports record breaking Singles Day

Ingenico reports record breaking Singles Day
15.11.2019 11:28 am

Ingenico reports record breaking Singles Day

Payments

Ingenico Group, the global leader in seamless payment, today reported record breaking transaction volumes and payment authorization rates on its most successful Singles Day ever. The company outperformed last year with more than four times as many online transactions as 2018’s event and recorded its highest number of Transactions Per Second (TPS) ever. During the event, Ingenico’s Amsterdam-based ePayments division processed millions of payments seamlessly for leading Chinese-owned websites and marketplaces including AliExpress, Tmall and DHGate.

Analysis of payment data from Ingenico ePayments, one of the first international payment service providers to establish a significant presence in China, shows that the historically Chinese festival is fast becoming a truly global phenomenon. Singles Day is the largest ecommerce shopping day in the world, beating rival peak sales days Black Friday and Cyber Monday and this year’s reported growth was particularly strong in the US and Russia for the company.

One of Ingenico’s focuses over the last few months has been to transform how international ecommerce companies operate in China. By introducing a suite of payment methods that fully caters to the preferences of local consumers, Ingenico can now enable online businesses to gain better access to one of the world’s most significant online markets.

Nick Tubb, VP Commercial Affairs at Ingenico ePayments, said: “Chinese ecommerce continues to grow at an impressive rate and Singles Day is the most extreme example of the opportunity it presents. This event was about overseas customers buying from the Chinese marketplace giants as they expand their international reach, but conversely international online businesses looking to successfully expand into China and tap into the immense customer base there should understand the market is very dynamic and completely unique. With the right partner though, the reward is more than worth it”.

Related News

Mastercard enables Contactless limit raise across 29 countries; and champions permanent increase

Today Mastercard announced its commitment to enabling the increase in contactless payment limits across... Read more »

TransUnion Research Quantifies How Social Distancing is Changing Shopping Patterns

TransUnion (NYSE: TRU) today released new research that quantifies the spike in digital commerce since social distancing became widespread globally. The company found a 23%... Read more »

Wirecard expands presence in Mexico

Wirecard, the global innovation leader for digital financial technology, and Banca Afirme, a Mexican financial institution with a nationwide presence, are collaborating to... Read more »

Barclaycard to enable UK retailers to accept new £45 Contactless Limit

Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, will be rolling out the deployment of the new £45 contactless limit across UK retailers... Read more »

Digital Payments in Europe to Surpass $802bn Transaction Value This Year

The increasing number of mobile phone users and the massive growth of eCommerce have led to the rapid adoption of digital payments all over the world. Cashless payments have... Read more »

SumUp launches free Mobile Payments and Invoicing across Europe to help consumers pay safely and remotely via smartphone

As Europe moves into COVID-19 lockdown - affecting small businesses and retailers everywhere - SumUp, the London-headquartered fintech and leading provider of digital payments... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel