Running an online business can be time-consuming, leaving no room to read up on the latest news in ecommerce. But with Ecommerce Lately, it’s easy to keep track of the month’s trending topics.
With the summer season ahead of us, let’s review all the latest happenings from June in our most recent Ecommerce Lately article.
European Union’s New Online Payment Directive
The European Union is working to provide more secure payment transactions online with SCA (Strong Customer Authentication). Starting September 14th, companies will need to provide a two-factor authentication before proceeding with any online transaction.
All businesses must follow the rules to avoid having payments declined. The problem is, there are 6k banks that may interpret the SCA differently. Some may require a PIN number while others may require facial recognition. Thankfully, Stripe is currently developing software to help online businesses cope with SCA.
Adobe and Amazon Announce New Partnership
Adobe and Amazon have joined hands with their new partnership and are now offering Amazon sellers an easy way to build a branded webstore via Magento Commerce. This new collaboration makes it easy for sellers to build a multichannel experience for their customers while building more awareness for their brand. This new integration also comes with Amazon Pay, dependable AWS servers, and access to FBA, allowing merchants to easily expand without the typical infrastructure issues.
FedEx Ground Upgrades to 7-Day Delivery
Starting in January 2020, FedEx Ground will extend its delivery times to 7 days a week year-round. The word is still out on whether this change will cost sellers any additional dollars.
On a separate note, the corporation is also planning to merge FedEx SmartPost into FedEx Ground as well as improving the handling of large packages. As of today, FedEx uses the USPS to deliver nearly 2 million FedEx SmartPost packages to residential addresses. FedEx has already moved over 20% of those deliveries to FedEx Ground and plan on accelerating the integration this fall.
PayPal Launches an Ecommerce Platform for Small Businesses
PayPal has opened their Commerce Platform to individual retailers. SMB’s now have access to the same technology that runs the Facebook Marketplace and Instagram Checkout. It will include features such as account verification, protection from fraud, and more.
Jet.com Extends Partnership with Walmart
Jet’s president, Simon Belsham, will no longer be a part of the corporation as Walmart deepens its existing integration with the rest of Jet’s departments. Walmart claims this integration will help each company fully leverage each other’s talent to improve operations.
Facebook and Ebay Eliminate Fake Reviews
U.K.’s Competition and Markets Authority issued a warning to Facebook and eBay regarding the fake reviews spotted on their sites over the span of 7 months. Both platforms have deleted the reviews and are continuing to implement solutions to prevent them from appearing on their site.
eBay Enhances the Customer Shopping Experience
eBay has taken the shopping experience to the next level. Last year, the company began improving their site’s performance with the use of artificial intelligence and machine learning. This innovation reduces browsing time for the customer so they can spend their time doing what they love most. Shoppers can now see products that are tailored to trends and preferences.
Etsy Adds Listing Variation Feature
Etsy has made it easier for sellers to display their variant products. By linking a set of photos with a listing, buyers can view multiple versions of a product based on color, size, amount, and material. Throughout the checkout process, the product’s image will be visible to ensure that the correct item is being purchased. This tool helps eliminate any concerns a shopper might have during the buying process.
Shopify Supplies 2-Day Shipping to Its Sellers
Shopify announced it plans to provide 2-day shipping for select merchants selling in the United States by the end of the year. Similar to Deliverr, Shopify doesn’t plan on operating many warehouses, but rather partnering with existing fulfillment centers and using machine-learning technology to optimize inventory and order flows. It has released an early access program for those who meet its criteria and plans to spend $1 billion over the next few years building out the program. As it stands today, it doesn’t look like it’s offering multichannel-fulfillment.
China’s Impact on Amazon Stores
The new tariffs that are enforced on China are negatively affecting Amazon sellers. Many are forced to raise their product prices, stockpile their inventory, or struggle to find another manufacturer. And with the holiday season around the corner, many small businesses are having a difficult time planning their inventory and production costs.
The good news? 600 companies including Walmart and Target, have signed to stop the trade war and Amazon has agreed to pay some of its vendors 10% more for products affected by the tariffs.
Magento 2.X’s Hacking Scandal
There have been reported hacks on numerous Magento 2.x stores within a 3-month time period, doubling each month. Two hackers are found to be the cause of the malware outbreak.
The software was targeted due to a security malfunction within Magento’s content management system. The company’s tech support has made software updates available for the security fix.
From new law regulations to successful integrations, the month of June has been eventful. What do you think these updates mean for you as an online retailer? Let us know in the comments!