A major national campaign is being launched by Ireland’s Central Bank to persuade both businesses and the public to use online transactions instead of using cash and cheques. Ireland is the second biggest user of cheques in Europe, and also uses cash much more frequently than its neighbouring European countries. “The value of withdrawals from…Details
The People’s Bank of China has announced a 318% increase in mobile payment values in 2013 compared to 2012. It advised that 16.74bn mobile transactions with a value of 9.64tn Yuan (US$ 1.66tn) were processed during the period. Online payments made via computers grew by 28.9% year on year, totalling 1,061tn Yuan in 2013. Phone…Details
In an effort to restore some of the value of the Icelandic krona, entrepreneur Baldur Friggjar Odinsson has created Auroracoin, a virtual currency similar to the Bitcoin system, and intends to distribute digital coins to all 333,000 Icelandic citizens. The Auroracoin website describes the virtual currency as: “a cryptocurrency for Iceland. It is based on litecoin…Details
According to a report by Giesecke & Devrient, the use of pre-paid payment cards is quickly increasing in India. There are around 17 million pre-paid payment cards currently in use, compared to 316 million credit and debit cards, but the gap is steadily decreasing. There are many people in India who do not have an…Details
During 2013 Poland made almost 840 million contactless payments using Visa cards, making it the top country in Europe for Visa contactless payment transactions.
There was an 11.3% growth in contactless payments, almost double the increase in the number of payments in general, including ATM withdrawals, which was 6.8%.
Source: Warsaw Business Journal
Transport for London (TFL) has announced that London buses will no longer accept cash payments from this summer, though the exact date is yet to be confirmed. Contactless payments using cards were first introduced in December 2012 and since its introduction there has been a steady increase in the number of contactless payment transactions. Currently,…Details
El Corte Inglés, the Spanish department store, has installed thousands of contactless payment terminals for customers to make contactless card or mobile phone payments. With 5,200 of its terminals already replaced with the new Visa payment machines, the group predict that 60% of its terminals will have the new technology by the end of 2014.…Details
Australia’s Commonwealth Bank has made mobile payment technology available to its customers through the release of the new CommBank app and CommBank PayTag NFC sticker for iPhone. This follows the launch of the new CommBank apps and stickers for Android and Windows 8 platforms which were released in December. The technology is also in-built in…Details
The Royal Canadian Mint’s digital payment technology MintChip™ was demonstrated last week during the 2014 National Retail Federation’s Annual Convention and EXPO. Though MintChip™ is still in its research and development phase, Ingenico, a leading provider of payment solutions based in Paris, introduced the first proof-of-concept of the MintChip™ payment technology on a POS retail…Details
Apple has filed for a new patent regarding mobile payments. The patent suggests that Apple is moving towards the release of a new smartphone device capable of mobile payments, possibly within the iPhone6. It concerns a Secure Element (SE) within a mobile phone in which to store cardholder information, near-field-communication (NFC – which was omitted…Details