London buses: Now you can pay fares by tapping in with a mobile August 4, 2014 In the march towards a future where you can do everything through your mobile phone, London buses are the latest to get on board. Contactless payment system Cash on Tap is being accepted by TFL on all London bus routes and works in the same way as an Oyster card or contactless card. Handy if [...]
New data shows card transactions reached 990m in May July 11, 2014 Credit card transactions rose in the UK last month, at the fastest rate since 2005. At 990m, the number of transactions reached almost 1bn and totalled £47.1bn. The rise equates to an annualised increase of 9.1 per cent. Of that total, 70 per cent was spent on debit cards, with debit spend up 8.5 per [...]
Cash fares no longer accepted on London buses July 6, 2014 London buses will no longer accept fares paid in cash in a move that Transport for London (TfL) says will save the capital £24m a year. From today, passengers will only be able to pay for bus fares using an Oyster card, contactless credit or debit card or travelcard ticket. TfL estimates less than one [...]
Pay by swiping your hand: Quixter makes a splash at PayExpo June 12, 2014 The rise of smartphones, cryptocurrencies and a host of other technologies has brought a vast amount of innovation to the world of payment systems. However, a new product invented by Swedish engineer Fredrik Leifland, has made quite the splash at London’s PayExpo conference. Leifland’s device turns the customers hand into a physical basis for payment. [...]
Pay by swiping your hand: Quixter makes a splash at PayExpo June 12, 2014 The rise of smartphones, cryptocurrencies and a host of other technologies has brought a vast amount of innovation to the world of payment systems. However, a new product invented by Swedish engineer Fredrik Leifland, has made quite the splash at London's PayExpo conference. Leifland's device turns the customers hand into a physical basis for payment. [...]
Barclays fears Amazon and Google threaten traditional banks June 10, 2014 Customers will soon use tech firms like Amazon, Google and PayPal instead of banks, Barclays’ chief Antony Jenkins said today, promising to innovate more to compete with digital giants. The sector is already being shaken up by new banks being established, and big firms like Tesco offering current accounts. But Jenkins believes the [...]
Barclays rolling out contactless payment wristband next month June 9, 2014 BARCLAYS will launch a contactless payments wristband for consumers in 2015, called bPay, with trials of the wearable technology starting at sponsored events this year. The company hopes that the device will encourage cash-free payments as consumers increasingly turn to card and contactless payments. The British Summer Time music festival in Hyde Park will be [...]
Barclays rolling out contactless payment wristband next month June 9, 2014 BARCLAYS will launch a contactless payments wristband for consumers in 2015, called bPay, with trials of the wearable technology starting at sponsored events this year. The company hopes that the device will encourage cash-free payments as consumers increasingly turn to card and contactless payments. The British Summer Time music festival in Hyde Park will be [...]
Shoppers pay £520bn by card as death of cash draws nearer June 3, 2014 THREE-quarters of spending in UK shops is paid for on debit and credit cards, the UK Cards Association revealed yesterday. A decade ago, plastic accounted for half of spending in shops. The surge means that shoppers used cards for more than £520bn of spending in 2013, a record high. The figure compares with spending of [...]
Britons leave cash behind in favour of cards June 2, 2014 BRITONS have cut back on shopping with cash by 14 per cent over the last five years as people increasingly turn their backs on coins and notes in favour of card and contactless payments. Cash made up just £27.64 in every £100 spent at retailers in 2013, according to a survey published this morning by [...]