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MintChip Digital Payment Demo

Cashless Payments, News, TechnologyBy SMI 21/01/2014

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…

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Apple Patents Mobile Payments System

Cashless Payments, News, TechnologyBy SMI 20/01/2014

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…

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Deadline looms for old UK £50

Banknotes, NewsBy SMI 17/01/2014

The use of the old £50 banknote design featuring Sir John Houblon is due is to stop from 1st May 2014. The Bank of England has been withdrawing the banknote from circulation since its replacement was launched in November 2011. Those wishing to use their old banknotes can do so until 30 April, after which…

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O2 Wallet to Close

Cashless Payments, NewsBy SMI 17/01/2014

O2 Wallet is due to close on 31 March 2014. The digital wallet app, first launched in April 2012, allows users to make and receive payments using just a phone number regardless of their mobile network or bank provider. It works similarly to a pre-paid card, whereby users top up their O2 Wallet balance with…

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Increase in Euro Counterfeit Banknotes

Banknotes, NewsBy SMI 15/01/2014

The European Central Bank (ECB) issued a press release this week confirming the total number of counterfeit euro banknotes which were withdrawn from circulation. During the second half of 2013 the total number of banknotes withdrawn saw an increase of 11.4% compared to the volume removed during the first half of 2013. Though this number…

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New Europa €10 banknote announced

Banknotes, NewsBy SMI 13/01/2014

The European Central Bank (ECB) has today issued a press release announcing the new €10 banknote. The new banknote, part of the recently released Europa series, will begin to circulate on the 23rd September 2014, allowing retailers and other cash handlers time to prepare for its release into circulation. The new banknote design will gradually…

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