Revolut’s Metal card offers customers cryptocurrency cashback August 22, 2018 Fintech darling Revolut today offered customers cashback in the form of cryptocurrency if they sign up to its new Metal account tier, as it aims to generate more revenue from its 2.5m customers. Those who adopt the steel card can get up to one per cent cashback in either fiat or digital currency on transactions made [...]
TfL names Helen Murphy as head of new consulting arm as it eyes millions in revenue from work on transport projects across the world May 15, 2018 Transport for London’s (TfL) new consulting arm is picking up steam, with the appointment of a new boss for the business, as the transport organisation eyes millions in fresh revenue to help boost its finances. Last year, mayor Sadiq Khan said there was “significant scope” for the transport body to pursue opportunities to generate revenues [...]
Mastercard is in talks with UK banks to take biometric technology to the forefront of payments security July 8, 2018 Mastercard is exploring the possibility of trialling its fingerprint-scanning cards in the UK, as the second Payment Services Directive (PSD2) rears its head on financial fraud. Currently under trial in South Africa, Mastercard's biometric card combines chip technology with a fingerprint scanner on the card's top right corner to verify the cardholder's identity when making [...]
Barclays bPay, a £20 contactless pay wristband, given away for free in latest sign bank’s wearable has flopped July 19, 2017 Barclays has started giving away a contactless payments device normally costing £20 in the latest signal that its technology efforts have failed to take off. The bank is offering the bPay wearable band or key fob, used to pay for things with just a swipe, for free in a push to get them into people's [...]
Visa UK’s former chief executive Marc O’Brien joins world’s first crypto bank Crypterium May 20, 2018 Marc O’Brien, the former chief executive of Visa UK and Ireland, will be taking on the role of chief executive for the world’s first mobile cryptocurrency bank. O’Brien, who left Visa in 2014, will be leading crypto start-up Crypterium which is a mobile service that aims to simplify cryptocurrency transactions as many still struggle to [...]
Cashless society? Debit cards will overtake cash much sooner than expected with the rise of contactless May 25, 2017 The rising popularity of using contactless in the UK means we might just be heading for a cashless society sooner than we thought. New figures reveal debit cards are set to overtake the use of cash next year – three years earlier than experts had previously predicted. Read more: Forget contactless, train tickets could soon [...]
Transport for London (TfL) says one billion contactless payment journeys have now been made across London’s transport network July 6, 2017 Over one billion journeys have now been made on London’s transport network using contactless payment cards, according to new figures from Transport for London (TfL). Almost £2bn has been spent by customers using pay as you go with contactless since it was introduced at the end of 2012, And TfL said that customers have saved [...]
DEBATE: As the future of cashless payment looms closer, is it time to scrap 1p and 2p coins? March 15, 2018 As the future of cashless payment looms closer, is it time to scrap 1p and 2p coins? Abhijit Deb, head of banking & financial services (UK and Ireland) at Cognizant, says YES. There is no doubt that we have seen huge swathes of the British public already gravitate towards cashless payments. Every day we see [...]
London mayor and TfL have just confirmed fares for the Elizabeth Line ahead of December launch March 16, 2018 Transport for London (TfL) and mayor Sadiq Khan have confirmed the fares for the highly anticipated Elizabeth Line ahead of the £14.8bn project's launch in December. TfL said that it will be charging the same prices on Elizabeth Line pay-as-you-go fares within zones one to six, as the rest of existing TfL services. The Crossrail [...]
Challenger bank Revolut brings out ‘disposable’ virtual cards to help combat payment fraud March 22, 2018 In an effort to combat payment fraud, challenger bank Revolut has launched single-use virtual cards. When the details of a virtual Revolut debit card are used once to make an online payment, they will be destroyed and a new virtual card will automatically be generated. The technology is aimed at preventing scammers from copying card [...]