Contactless payments surge as cash continues to spiral January 26, 2022 Contactless payments surged over 40 per cent last year as entertainment and hospitality rebounded and cash usage continued its decline, new data has revealed.
Fintech firms unite again over Open Banking January 7, 2022 Fintech firms have come together to offer another robust defence of Open Banking just days after rebuffing claims from Starling boss Anne Boden that the initiative had failed. Speaking at an event organised by Open Banking Excellence, speakers from leading fintechs including Plaid, Token and Klarna argued that Open Banking was underpinning the rollout of [...]
Eurostar to launch contactless fast-track service from St Pancras December 6, 2021 Eurostar announced this morning the launch of a contactless fast-track service operating from London St Pancras station. Developed alongside biometric technology manufacturer iProov, the service allows business travellers and loyalty card holders to complete ticket verification and UK exit checks on their phone before departure. Using iProov’s biometric technology, passengers can pass through smart gates, [...]
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 [...]
Paper rail tickets to be ripped up across South East England October 17, 2021 Ministers are set to scrap paper rail tickets across South East England in favour of contactless payments. The contactless payments will be integrated into London’s Oyster card system. Transport officials reportedly want to expand pay-as-you-go smartcards in a pre-emptive strike against trade unions. The unions are opposing the potential closure of ticket offices across the [...]
iPhone users urged to remove Visa from Apple Pay due to dangerous contactless payments flaw September 30, 2021 Visa as a transport card via Apple Pay should be removed urgently by iPhone users after researchers said they uncovered a flaw that lets fraudsters bypass security and make unlimited contactless payments. The issue could be exploited to make transactions from an iPhone inside someone’s bag, without their knowledge, experts from the University of Birmingham [...]
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, [...]
Weekend read: A hybrid high street August 30, 2021 In March 2020 as physical stores were closed, brands with existing e-commerce channels were able to quickly adapt and many enjoyed a boom in online sales led by an increase in mobile shopping. More customers than ever relied on their phones to shop, with global mobile app audiences growing by 31 per cent — nearly twice the [...]
Contactless limit to rise to £100 from October August 27, 2021 The limit for spending on contactless cards will reportedly rise from £45 to £100 on October 15. In March, Rishi Sunak confirmed that the payment limit would be raised in order to boost businesses as the UK recovers from the Covid-19 pandemic. UK Finance, an industry body which represents banks, today confirmed that the changes [...]
Contactless limit to rise to £100 from October – CityAM : CityAM August 27, 2021 The limit for spending on contactless cards will reportedly rise from £45 to £100 on October 15. In March, Rishi Sunak confirmed that the payment limit would be raised in order to boost businesses as the UK recovers from the Covid-19 pandemic. UK Finance, an industry body which represents banks, today confirmed that the changes [...]