The amount we spent on contactless cards trebled to £7.8bn in 2015, with the payment method proving particularly popular with London commuters February 26, 2016 The way we're spending is changing, with the value of transactions on contactless cards soaring last year, according to research released today. The study by The UK Cards Association discovered that spending on contactless cards hit £7.8bn in 2015, up 233 per cent from £2.3bn in 2014. The number of transactions carried out contactlessly also rose to [...]
Soon there will be Oyster-style contactless payment technology on all public transport across the UK January 12, 2016 Contactless payments on buses and trains will no longer confined to London, with new plans to install the technology across the country, the UK Cards Association said today. Rail operators have provided funding for joint project between the card and rail industry to see how contacless cards and devices could be associated with long distance train tickets or [...]
The mobile payments battle just intensified in the UK August 23, 2016 iZettle is likely a familiar sight if you frequent small coffee shops or market stalls across the capital. The tiny card reading machine has sprung up across the UK, making it easier for shops to offer customers the option of paying by card without having to invest in the pricey systems offered by the big tech companies. [...]
Mobile pay is still waiting for its “Uber moment” (even among millennials) November 3, 2016 Despite our addiction to smartphones, using them to pay for a new winter coat or that morning coffee has yet to become commonplace – even among tech obsessed digital natives, aka millennials. Just a quarter of those aged between 18 and 35 are using mobile pay and only two per cent are using Apple Pay, the [...]
Tesco Bank’s perception goes into the red after security breach November 16, 2016 Last week, news broke of a security breach which compromised the accounts of Tesco Bank customers. It was reported that £2.5m had been stolen from 9,000 customer accounts, with the worst affected losing up to £1,500. In the immediate aftermath, the company suspended online and contactless transactions. YouGov brand tracking data shows us how the [...]
Goldman Sachs and Santander have left a major blockchain group November 22, 2016 Goldman Sachs and Santander have both exited one of tech's top blockchain consortiums which is backed by some of the world's biggest financial institutions. Both institutions have quit membership of the R3 group and will not be investing in its latest reported funding round. Santander did not comment on its decision to depart R3, however, it's understood it will [...]
Pay by selfie: Mastercard brings biometric technology to the UK October 4, 2016 Paying for things simply by taking a photo of yourself is now a step closer to reality as Mastercard brings its new biometric technology to the UK. So called selfie pay will let customers verify their identity with a snap of their smartphone camera when doing online shopping, or with fingerprints, doing away with passwords and pins -welcome relief [...]
10m journeys have been made with Sadiq Khan’s new bus Hopper fare October 20, 2016 Over 10m journeys have been made in the first six weeks of the Mayor's new bus "Hopper" fare, according to Transport for London (TfL). The milestone journey was made at 4pm on Wednesday afternoon on bus route 322, running from Tesco in Brent Park to Paddington Station. Read more: TfL signs £79m deal with Serco [...]
Get the candles ready: It’s the credit card’s 50th birthday since its introduction to the UK by Barclaycard June 29, 2016 A birthday card and a very large bunch of candles are due today for the credit card, which is celebrating its 50th anniversary of being introduced to the UK's wallets by Barclaycard. On 29 June 1966, Barclaycard launched the first credit card with a six-page business strategy, an investment of £20,000 and 30 employees in Northampton. [...]
The Mayor of London has opted to protect privilege not competition September 14, 2016 Sadiq Khan’s crackdown on London’s private hire industry is a sop to a privileged monopoly that distorts competitive markets and fails to defend consumer interests. As private hire services make inroads into London’s black cab monopoly, the case to protect them from decline and enforce consumer safety may sound reasonable. But Khan’s reforms go beyond safety and are [...]