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209

Vietnam Announces Major Initiative to Become Cashless by 2020

By

Vietnam’s deputy prime minister Vuong Dinh Hue has signed a policy decision aimed to dramatically reduce cash transactions and improve electronic payment methods by 2020, according to a report by Viet Nam News. (more…)

Cashless, Government activities, Vietnam

February 1, 2017

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Digital payments get huge leg-up in India’s new budget. Here’s the low-down.

By  for TechInAsia

India is getting super serious about promoting a cashless economy. (more…)

Cashless, Fintech news, Government activities, India

February 1, 2017

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Five Reasons Why PayTM Is Miles Ahead Of Its Rivals

By Ketharaman Swaminathan for Finextra

With over 100 million users a year ago, PayTM was already ahead of its digital payment competitors before the Nov. 2016 demonetization of high value currency notes in India. (more…)

Analytics, Cashless, eWallets, India

January 21, 2017

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Mastercard ‘preying on millions,’ says $17 billion fee lawsuit

A movement by countries around the globe to embrace a cashless future is resulting in plastic payments (think credit and debit cards) to erode cash’s market share. (more…)

Analytics, Cashless, Fintech news, Marketing Report, Payment systems

January 20, 2017

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CashLess Payments to Drive LessCash Payments

By Vinod Sharma Finextra

Abstract – Essentially, digital cash mimics the functionality of paper cash. The elimination of physical cash from economy is feasible is purely a technological perspective or assumption. Our hard earned money and investments disappear into a labyrinth of financial instruments so mysterious that “money” almost becomes more of an idea than a tangible reality. (more…)

Banks, Cashless, Fintech news, Mobile payments/banking, p2p-payments

January 17, 2017

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161

Google Assistant Could Soon Support Payments

(more…)

Bots, Cashless, Mobile payments/banking

January 17, 2017

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HSBC to stir up local rivalry with launch of P2P payments app in Hong Kong

By Finextra

HSBC is to launch a P2P mobile payment app in Hong Kong in early 2017, taking on established market operator Jetco. (more…)

Banks, Cashless, Fintech news, Hong Kong, p2p-payments

January 13, 2017

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More Nigerians are embracing electronic payments

By Yomi Kazeem for Quartz

Five years after Nigeria’s Central Bank (CBN) launched its Cash-less Nigeria project to reduce the amount of physical cash circulating in the economy, it is finally catching on. (more…)

Cashless, Fintech news, Government activities

January 11, 2017

Honda and Visa Demonstrate In-vehicle Payments with Gilbarco and IPS Group at 2017 CES

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Honda and Visa Demonstrate In-Vehicle Payments With Gilbarco and IPS Group at 2017 CES

By LTP

– In-vehicle payment experience features secure Visa payment technology

– First proof-of-concept demonstration with fueling pumps and smart parking meters from infrastructure partners: Gilbarco Veeder-Root and IPS Group, Inc.

– Showcasing the simplicity and convenience of mobile payments directly from the vehicle (more…)

About, Cashless, Fintech news

January 9, 2017

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China Launches a $1.5 Bln FinTech Fund and Adopts to Consumers Going Cashless

By Joseph Young for CoinTelegraph

Chinese consumers are rapidly moving towards non-bank and cashless alternatives, such as Alibaba’s $60 bln financial application Alipay. To cope with the rapid growth rate of its FinTech industry, Chinese state-owned companies launched a $1.5 bln fund to support emerging FinTech startups and technologies. (more…)

Cashless, China, Deals, Fintech news

January 9, 2017

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CashlessIndia – Why Putting Cart Before Horse Will Work

By Ketharaman Swaminathan for Finextra

On the back of the demonetization of high value currency notes in India, the government has been aggressively pushing cashless payments. Trending on Twitter under the hashtag #CashlessIndia, the initiative has attracted criticism from the blogosphere and mainstream media on the grounds that India is not yet ready for digital payments. (more…)

Analytics, Cashless, Government activities, India

January 9, 2017

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Here’s what Southeast Asia can learn from India’s tryst with cashlessness

By Adhil Shetty for e27

When we talk about the future of money, we invariably come to discuss the merits and demerits of going cashless. It’s perhaps a science-fiction-like scenario wherein all your transacting needs are taken care of by a few taps on your smartphone. (more…)

Cashless, Global trends, India, InspirAsia, Marketing Report, Mobile payments/banking

December 27, 2016

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U.S. noncash payments are a $178 trillion market: Fed

By John Adams for Payments Source

A new analysis from the Federal Reserve shows checks as one of the few non-cash payment types to decline, while many others are on the rise. (more…)

Analytics, Cashless

December 24, 2016

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CashLess OR LessCash

By Vinod Sharma for Finextra

Abstract – Journey from cash only transactions to less cash and thereafter if possible moving to cashless or digital money society. This journey looks very simple in textbooks or written on blogs or papers but ground reality can be very different. (more…)

Cashless, Global trends, India, Payment processors/providers/gateways

December 20, 2016

eCurrency Mint Receives Further Series C Funding

ecurrencyeCurrency Mint Limited, a Dublin, Ireland-based developer of technology to enable digital fiat currency to be issued by central banks, received an investment of undisclosed amount. (more…)

Cashless, Deals, Fintech news

December 20, 2016

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Why Samsung Pay needs partners to go forward

By Kate Fitzgerald for Payments Source

Samsung Pay users had the advantage over Apple Pay and Android Pay when it launched last year with a technology enabling mobile payments through virtually any merchant terminal—contactless or not—but that advantage quickly diminished. (more…)

Cashless, eWallets, Mobile payments/banking

December 15, 2016

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French interbank rails tap Gemalto to power mobile payment migration

By Kate Fitzgerald for Payments Source

France’s national interbank network will add Gemalto’s mobile payment service in an effort to provide a smooth transition to contactless technology. (more…)

Banks, Cashless, Fintech news, Mobile payments/banking

December 15, 2016

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Cash to account for less than a quarter of US transactions by 2026 – research

By Finextra

The rise of mobile and contactless payments means that by 2026 cash will account for less than a quarter of all transactions in the US, according to research from law firm Paul Hastings and the Centre for Economics & Business Research (Cebr). (more…)

Cashless, Global trends, Mobile payments/banking

December 15, 2016

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Starbucks, Tencent add China’s WeChat for coffee payments

By David Heun for PaymentsSource

Starbucks customers in China now have the option to use WeChat Pay to buy their coffee at nearly 2,500 Starbucks stores across the country.

Through a partnership between Starbucks and Tencent Holdings Limited, the Seattle coffee giant becomes the first retail brand to have digital payment and gifting capabilities through WeChat, the popular social media platform in China.

Tencent Holdings says it has 846 million global monthly active-user WeChat accounts, of which more than 300 million have linked bank cards to WeChat Pay or QQ, another service through Tencent. (more…)

Cashless, Fintech news, Mobile payments/banking

December 15, 2016

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Light at the end of the tunnel: here’s the multiplier effect of going cashless

By  for TechInAsia

Long before demonetization and a scramble to find alternatives to cash, India had laid out a unique tech infrastructure for a digital economy. Its cornerstones were a unique biometrics-based Aadhaar ID for every citizen to enable authentication, and a unified payments interface (UPI) to simplify money transfer. (more…)

Banks, Cashless, Fintech news, India, Mobile payments/banking

December 10, 2016

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Askari Bank introduces cardless cash withdrawals

By Finextra

In association with TPS as its trusted technology partner, Askari Bank Limited has launched Cardless Cash Withdrawal service for the first time in Pakistan. With this service, Askari Bank’s customers can withdraw cash without any ATM card. The service is available at all Askari Bank ATMs across Pakistan.

(more…)

Banks, Cashless, eWallets, Fintech news

December 6, 2016

Shopper with Cart in Supermarket --- Image by © Dave & Les Jacobs/cultura/Corbis

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Amazon looks to make shoplifting legal with Amazon Go

By  for TNW

There’s a term used to describe people who walk into a store, help themselves to a sandwich or a cupcake, and then promptly walk out: Shoplifters. But maybe not for much longer.  Amazon just lifted the lid on its new Amazon Go technology, which looks to fundamentally transform the retail world. (more…)

About, Cashless, Fintech news

December 6, 2016

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Here’s a tech solution to the killer queues at banks and ATMs in cash-starved India

By

My colleague in Bangalore, Neha, stood for hours at ATMs twice – and failed on both occasions to withdraw cash. Another colleague, Abhilash, was third in the queue after a four-hour wait when the ATM ran out of cash. (more…)

Cashless, Fintech news, India

November 28, 2016

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Airtel Bank opens its doors as India grapples with demonetization crisis

By  for TechInAsia

You know what they say about demonetization in India, right? It marches on. (more…)

Banks, Cashless, Fintech news, India, Mobile payments/banking

November 23, 2016

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Mastercard, Visa poised to reap spoils of India’s war on cash

By PaymentsSource

The world’s largest payment networks will see a surge in transactions and cardholders after the Indian government’s decision this month to remove high-denomination bills from circulation, according to analysts who cover the companies. The two networks have been pushing for this kind of change in India, where a McKinsey & Co. study found that more than 90 percent of transactions are still conducted in cash. (more…)

Cashless, Fintech news, Global trends, India

November 23, 2016

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Alibaba-backed Paytm solves the problem of card payments in India

By  for TechInAsia

Chew on this: 740 million debit or credit cards have been issued in India. Only 700,000 merchants accept card payments. And there are only 1.5 million card-swiping machines – point-of-sale (POS) terminals – in the country. (more…)

Cashless, eWallets, Fintech news, India, POS/mPOS and online acquiring

November 23, 2016

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PayQwick Aims to Be The PayPal of Pot

By Julie Weed for Forbes

Piles of cash.

It’s often one of the biggest challenges for a marijuana company. (more…)

Banks, Cashless, eWallets, Fintech news

November 19, 2016

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How retail brands can shake up stagnant card loyalty

By Lars Holmquist for PaymentsSource

It’s time for financial services to get on board and engage with complementary brands to enhance loyalty.

(more…)

Analytics, Cashless, Mobile payments/banking

November 19, 2016

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Life.SREDA’s portfolio company Fastacash was awarded the biggest award at the Singapore FinTech Awards

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) awarded 10 FinTech companies a total of S$1.15 million at the FinTech Awards.

Between the 10 awardees, Life.SREDA’s portfolio company FASTACASH was awarded a 1st place with a prize of S$250.000 in a category of MAS FintTech award (Singapore-based companies of any size)

(more…)

Cashless, Fintech news, Global trends, Hotnews, Remittances

November 18, 2016

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SocGen to offer customers cards with dynamic CVV screens

By Finextra

Societe Generale is to offer customers the opportunity to replace their current Visa cards with a Motion Code card from Oberthur that replaces the three-figure CVV code on the rear of a card with a small screen display that automatically changes periodically. (more…)

Banks, Cashless, Security

November 17, 2016