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
On Monday 3 February, the Hiroshima based coin-manufacturing department of Japan’s Finance Ministry resumed the production of aluminium ¥1 coins for the first time in four years. This is thought to be in preparation for the consumption tax increase which will occur on April 1, 2014. A shortage of ¥1 coins is expected amongst retailers…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
For the first time, the Bank of England has allowed the £1 million and £100 million banknotes to be filmed. The United Kingdom’s Channel 4 news program filmed the banknotes during a news article regarding Scottish Independence. The banknotes are a “physical manifestation of the relationship between the Bank of England and the Scottish banking…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