By Alex Rampell for Techcrunch.com
The “wallet” in the modern sense of “flat case for holding paper currency” dates back almost 200 years. The word itself goes back 700 years, and the concept (minus paper currency) for millennia. (more…)
By Saritha Rai for Bloomberg Business
A biometrics-backed ID system will make it easier for everyone—from rural villagers to urban dwellers—to ditch cash.
By Sarah Gill for Paymenteye
The threat of payments fraud is on the rise and while continued reliance on cheques makes businesses vulnerable to attack, business emails are getting increasingly popular for fraudsters.
The world dreams of a cashless society. And as it acquires a multitude of non-cash payment options, this dream only comes closer. The progress of economies varies, though. In Hong Kong, one can purchase tickets or eat in fast food outlets using the Octopus value card. In Sweden, the homeless no longer ask passers-by for loose change; they have card readers instead.
By 2019, eMarketer estimates that the total value of transactions made by tapping a phone on an in-store terminal will reach $210 billion, up from $8.7 billion in 2015. For banks and retailers, that presents an opportunity to take on Apple Pay and Google’s Android Pay – and maybe save on transaction fees to boot.
The debate over what will happen to the decentralized virtual currency has reached a cacophonous point, and now lawmakers around the world are wondering whether the time has finally come to regulate this emerging technology. (more…)
By Claire van den Heever for The World Post, a partnership between Huffington Post and Berggruen Institute,
CAPE TOWN, South Africa — With the launch of Apple Pay in mainland China on Feb. 18, Apple has become the first foreign player to secure a place at the table for China’s enormous mobile payment market. The company will be battling for market share with e-commerce giant Alibaba’s Alipay and Tencent’s WeChat Wallet, which dominate China’s mobile payment arena. (more…)
By Chris Skinner for his blog,
We had two Financial Services Club meetings on the same night this week: one in London where Chief Executive of the Payments Council Maurice Cleaves talked about the landscape future for UK payments markets; and one in Warsaw where Lukas Dzuroska presented the top ten trends tracked in research by EFMA over the past year. I was in the Polish meeting, as it was also the first launch meeting for ValueWeb, and was intrigued to hear to the EFMA research. (more…)
By Laura Noonan for Financial times
Mobile payment apps are soaring in popularity in the UK and US, but the world’s least developed countries are making almost no progress in the move to eliminate cash and cheque transactions that cost them billions of dollars annually. (more…)