City AM talk with Bink cofounders Lee Clarke and Greg Gormley about resuscitating the loyalty marketing industry October 17, 2016 The road to a cashless society has been a fairly smooth one so far – the ubiquity of contactless payments and online shopping have made it so. But where cash may have once made your wallet bulge, often the weight has been replaced with a deck of loyalty cards. Before we’re quite done eradicating cash, [...]
Where can I use Apple Pay? Tesco Bank and TSB customers can now use contactless mobile payment with iPhones 6, 6 Plus, 6s, 6s Plus and Apple Watch November 17, 2015 The roll out of Apple Pay continues, with UK banks TSB and Tesco Bank now supporting the contactless payment method which can be used with iPhone and Apple Watches. They bring the total number of banks to jump on board with Apple Pay to thirteen after it launched in July with most of the major banks involved. Barclays is [...]
London mayor Khan faces cross-party fury over fare freeze pledge June 8, 2016 London Mayor Sadiq Khan is facing cross-party fury after it emerged that a much-vaunted freeze on TfL fares would exclude large numbers of tickets. A four-year freeze on fares was the flagship policy in Khan's plans for London, with the former Tooting MP stating in his manifesto that “Londoners won't pay a penny for more [...]
UK consumers ahead of the curve when it comes to payment technology February 11, 2016 British consumers are at the forefront of payment technologies, according to new research. Contactless payments, real-time payments and mobile banking have grown in popularity among UK consumers, while countries such as the USA and Canada continue to lag behind. The report, published by Payments UK, the trade association for the payments industry, found that by [...]
No-click-to-buy apps are a risk, but the rewards will be worth it July 22, 2016 Payments have come a long way, fast. In April, Domino’s began offering “zero-click ordering”, which allows customers to re-order a pizza simply by opening an app, removing the need for in-app tapping. There are now so many payment methods – contactless mobile, card and watch payments, swipes and taps on a mobile screen – it [...]
This banking platform is using wearables delivering electric shocks to stop people going over their spending limit May 19, 2016 A new banking platform promises to reduce overspending among millennials, by using the "Internet of Things" to break bad spending habits. The platform – called "Interact IoT" – was devised by FinTech company Intelligent Environments and connects individuals’ bank details with smart devices such as Nest and Pavlok. Go beyond your spending limit, and your heating will automatically be turned [...]
Spending held back by low consumer confidence in April May 9, 2016 Consumer spending rose by 1.9 per cent year-on-year in April, up from March’s 1.6 per cent rise, according to the latest data from Barclaycard. April was the second consecutive month of poor performance, with growth down from four per cent in December. The gloomy numbers have been put down to economic headwinds including slowing wage growth, [...]
UK is contactless capital of world due to the Tube as payment limit to hit £30 July 5, 2015 Over one billion contactless Visa card payments were made in Europe alone in the last 12 months, double the previous year, in transactions worth a total of €12.6bn (£8.9bn). The UK is leading the trend, with 49.6m contactless Visa cards in circulation, an increase of 37 per cent from March 2014. Britain has [...]
The war on cash is raging – should we welcome or fear the death of hard money? June 7, 2016 Cash is no longer king. Although the Bank of England unveiled a new, polymer-coated £5 note last week, the seemingly unstoppable march towards paper-free transactions continues. Electronic payments overtook notes and coins last year in the UK, according to the Payments Council, an industry body representing the banks and card machine industry. They now account for [...]
London’s black cabs could be made to offer contactless payments June 19, 2015 Black cabs could be legally obliged to accept contactless credit cards, as a new set of proposals are opened up to consultation. Transport for London has put forward the idea – that contactless payments be accepted in all London taxis – as part of a move to modernise the industry and make it easier [...]