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 [...]
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 [...]
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 [...]
Spring Statement 2018: Government hints at dropping £50 note, 1p and 2p coins March 13, 2018 The government has hinted that it may ditch the £50 note and 1p and 2p coins as part of a move to make cash fit for purpose. As part of a tranche of documents released for today’s Spring Statement, the Treasury has launched a call for evidence around use of cash and digital payments. As [...]
Open banking is a test of trust for financial firms: What lenders face in their quest to win customers’ confidence March 5, 2018 Open banking, the new initiative threatening to tear up the banking rule book, has the power to revolutionise how people manage their money. For the first time, customers will be able to give companies other than their bank access to their financial data, opening retail and business banking to fresh competition and delivering more choice, [...]
New Barclaycard “Dine & Dash” technology to be trialled at Prezzo allows eaters to walk out of a restaurant without waiting for the bill February 27, 2018 One of the most frustrating parts of eating out, according to a survey conducted by Barclaycard, is waiting for the bill. So the payment business has developed a new technology which allows diners to simply walk out after eating their meal. The “Dine & Dash” technology, which is being trialled at the St Martins Lane [...]
Nintendo Labo hands-on preview: Can cardboard really be the next step for Nintendo? February 21, 2018 Cardboard. Often seen mashed into a pulpy brown rectangle on the side of a rain-soaked street or driven through at high speed by a getaway driver fleeing a daring museum heist, this ubiquitous corrugated material has permeated modern life in a way that few others can boast. Tin had a good run. Stainless steel is [...]
The End of Cash? Beware sleepwalking into a world without hard currency November 23, 2017 As global wealth has accumulated over time, so the demand for hard cash has waned. A mere eight per cent of the world’s money is in notes and coins, according to estimates using World Bank data. Depending on where one looks, the days of physical currency seem numbered. In the UK, especially in London, cashless [...]
Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]
Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]