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 public toilets shame the capital and they’re disappearing fast: We need a private sector revolution to end this crisis May 31, 2016 A BBC investigation shows that the number of public toilets has continued to fall, with nearly 1,800 closing nationwide in the last 10 years. There is no legal obligation on councils to provide conveniences, and closing them is often an easy way to save money when cash is short. London’s provision is now abysmal, with [...]
Samsung’s Apple and Android Pay rival will launch in Europe next week May 25, 2016 Samsung is heading into battle with Apple and Google in the war for mobile tap and pay users by focusing on extras such as membership and loyalty schemes as it launches Samsung Pay in Europe for the first time. The Korean smartphone maker is facing stiff competition from Apple Pay which launched last year and Google’s Android Pay [...]
De La Rue sells off its cash-processing business as part of strategic shift, sending share prices higher May 23, 2016 The Bank of England's bank note printer De La Rue has sold off its struggling cash-processing business. The sale of Cash Processing Solutions (CPS) to private equity group Privet Capital is the latest move in De La Rue's plans to overhaul and streamline its operations. De La Rue last year embarked on a five year strategic turnaround that will see [...]
Card is king? The UK is closer than ever to being a cashless society May 23, 2016 The old adage that cash is king is about to be kicked into the long grass, new research suggested this morning – with card payments about to whoosh ahead of cash payments. A study by Payments UK found although cash is still the biggest method of payment – some 45 per cent of all UK [...]
De La Rue due a change as cash falls out of favour May 22, 2016 De La Rue, the world’s biggest commercial passport maker and the printer of notes for the Bank of England, is now almost a year into a five year plan it set out last May that will eventually see its identity division grow to rival its core cash business. This morning De La Rue announced the sale [...]
Contactless card payments are still on the up, but customers aren’t completely sold on them yet May 20, 2016 Contactless payments have more than doubled in the last year from one in 16 transactions to one in seven, but consumers are still not fully sold on them, according to new research. A survey of 2,000 adults by Defendernote indicated that almost a third (30 per cent) said bank customers should reserve the right to [...]
Transport for London’s contactless drive takes another stride forward May 20, 2016 Londoners are now able to use contactless on the Thames. Transport for London today announced that customers travelling on the MBNA Thames Clippers River Bus will be able to pay using contactless payment cards. Using contactless is the same cost as using an Oyster Card, which TfL says is up to 19 per cent cheaper than [...]
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 [...]
Why Google’s Android Pay UK launch is far more exciting than Apple’s May 18, 2016 Less than a year after Apple Pay reached the UK, Android Pay has landed. Since last July only a lucky few – those who own an Apple Watch or one of the recent raft of iPhones (including the SE) – could pay for goods and services via their phones. This was merely the green shoots [...]