AIB has unveiled a new e-commerce payments service that combines a payment gateway and merchant account in one called Authipay.
The new service, which is offered by AIB Merchant Services, is designed to enable businesses to sell online and take advantage of e-commerce opportunities.
Authipay provides multi-payment and multi-currency settlement options to enable businesses to accept online payments rapidly.
AIB Merchant Services is a joint venture between First Data and AIB.
Challenges facing e-commerce in Ireland
A survey of 200 business decision-makers in Ireland commissioned by Authipay has revealed the challenges and potential that selling online presents Irish businesses.
Four in 10 businesses surveyed already operate or plan to operate an e-commerce website, with increased growth from online sales and new market opportunities viewed as a driver for 60pc of respondents and reduced costs key for 53pc respondents.
Of the six in 10 businesses not yet operating an e-commerce website, 80pc cited lack of opportunity as a barrier while 12pc claim that lack of knowledge and expertise is a barrier. Only 8pc claimed cost was a barrier.
There was strong consensus among businesses that the development of a mentoring network of e-commerce professionals would enable the process of e-commerce adoption and, critically, save on time, according to the Authipay survey.
More than half of those surveyed believe that partnership or collaboration among businesses could support online growth, enhancing expertise or increasing scale and range of goods or services.
Seven in 10 believe the introduction of a stamp of approval for online retailers or businesses would support growth.
“This research reiterates that businesses in Ireland are both positive and realistic about the need to sell online and we believe services such as Authipay will help to drive this adoption,” said Nigel Motyer, general manager of First Data’s Europe, Middle East and Africa Alliances.
“All too frequently consumers are purchasing from websites outside of Ireland as they can’t find an Irish online retailer. With the launch of Authipay we have made it easier for Irish retailers looking for an online presence to get trading online quickly and easily,” Motyer said.