Seven things banks will be looking out for in 2024 December 31, 2023 A challenging year is in the offing for lenders – from regulatory reform to fraud crackdowns
Bitcoin Island: The Isle of Man is Turning Orange July 22, 2022 In April 2015, an article was published on the BBC News website about “Bitcoin Island” – a place where you could use Bitcoin to buy a pint of beer from The Thirsty Pigeon and then scan a QR code to pay for your taxi ride home. The price of one bitcoin was a mere £230, [...]
Government faces backlash over HS2 overhaul November 17, 2021 The government is facing criticism from small businesses and rail unions over plans to overhaul the designs for HS2. Transport Secretary Grant Schapps will tomorrow announce changes to the planned HS2 rail routes between major cities in the North and Midlands as part of the government’s £96bn “Integrated Rail Plan.” The rumoured redesign has drawn [...]
As the cashless world grows, our financial ecosystems must build strong structures March 4, 2022 The cashless debate has been raging in the UK for the better part of a decade. While some are worried about phasing out physical cash, the pandemic has catalysed its decline – it’s no longer a surprise if your local coffee shop turns down a crumpled note in favour of a contactless credit card. UK [...]
Card payments made up four in every five pounds spent last year September 22, 2021 Debit or credit cards accounted for more than four in every five pounds spent in 2020, as the pandemic sped up cashless spending. Cashless payments made up 81 per cent of spending last year, a slight increase from 78 per cent in 2019, according to the British Retail Consortium (BRC). In its annual payments survey, [...]
Delivery boom: Ant Group-backed Zomato eyes IPO valuation of nearly $8bn July 8, 2021 Ant Group-backed food delivery company Zomato has a near $8bn valuation on the cards in its initial public offering (IPO), with shares priced at 0.96 cents to $1.02 per share. Zomato, one of India’s most biggest startups, has reaped the rewards of a pandemic-induced surge in online ordering. The lofty $7.98bn figure is at the [...]
Brits still using pennies and pounds to buy goods August 10, 2021 Cash is continuing to play a significant role in facilitating transactions as Brits flock to high streets after “Freedom Day”, new figures released today reveal. A record £665m was withdrawn from Post Office counters in July, the highest monthly total excluding the historically busy Christmas period ever. Personal cash withdrawals in July were up 4.6 [...]
Retail therapy: How has the Covid-19 pandemic changed the way we shop? January 22, 2021 The lifestyle changes from Covid-19 were reflected in where people chose to spend their hard-earned cash in 2020, with local shops, fitness platforms and recipe boxes feeling the benefit of a year in the coronavirus pandemic.
Matt Hancock: Britain will be left in the dust with our tepid attitude to cryptocurrencies January 27, 2022 We were already living in an age of change like no other. Now the pandemic has accelerated that change and Britain must embrace the opportunities it brings, or we will lose out. Most obvious is the Zoom revolution. There have been more rapid changes to the way we work in the past two years than [...]
UK’s first contactless car vending machine unveiled in London August 21, 2019 Londoners in desperate need of a brand-new car can now snap up a set of wheels instantly, thanks to the UK’s first contactless vending machine. The bespoke vending machine, installed today in Spitalfields Market, allows motorists to purchase a new car on the spot via a contactless payment on their phone. The stunt, carried out [...]