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Samsung Pay hits $30M in 1 month

Cashless Payments, NewsBy SMI 25/09/2015

Samsung Pay, the mobile payments application launched by Samsung in South Korea a month ago, has already been used for $30 million’s worth of transactions by users. From its launch on 20 August until 20 September, Samsung Pay reportedly had 1.5 million transactions, and 10% of South Koreans using the app daily. The mobile payment app allows…

Australia 90 per cent cash free by 2027

Cashless Payments, News, TechnologyBy SMI 23/09/2015

A report by Australian bank Westpac has stated that Australian smartphone users predict the country will be 90% cash free by 2027. In fact, Westpac believe there is an expectation that it could be as early as 2022 if excluding survey results from those who believe the country will never be cash free. The Westpac…

Android Pay now available in the US

Cashless Payments, News, TechnologyBy SMI 10/09/2015

Android Pay, the new mobile payments technology owned by Google, has today been launched in the USA. Android has begun the rollout of its new service, allowing users to make payments with their compatible Android phones in stores, which will continue for the next few days. Like most mobile payments, Android Pay uses near field…

MasterCard to lift contactless payment limit by 2017

Cashless Payments, NewsBy SMI 09/09/2015

A press release issued by MasterCard yesterday talks of their plans to enable limitless contactless payments across Europe by 2017. MasterCard states that during the second quarter of 2015, contactless payments, also known as “Tap & Go”, grew by 170% year on year across Europe. They also state that the value of euro contactless payments…

UK Contactless card limit rises to £30

Cashless Payments, NewsBy SMI 01/09/2015

From today, shoppers in the UK can make contactless card or mobile payments up to a value of £30 per transaction. Contactless payments are those made without the use of a pin or signature, made by touching a contactless enabled payment card or mobile device against a compatible payment terminal. The limit has gradually risen…

Authenticate payments using your heartbeat

Cashless Payments, News, TechnologyBy SMI 12/08/2015

Canadian company Nymi has developed an authenticating wristband which uses a person’s unique electrocardiogram (ECG) reading. According to the company, the wristband allows wearers to “seamlessly unlock devices, remember passwords and more”. Nymi first discussed using their wristband technology as a payment authenticator last year and, following a successful trial, it now claims that the…

Ukraine restricts cash use

Cashless Payments, NewsBy SMI 28/07/2015

The National Bank of Ukraine, the country’s Central Bank, has issued a press release stating that it has passed a resolution which restricts the use of cash within the country. The bank has passed a “Resolution On Setting a Cap on Cash Payment” (Resolution No. 210, dated June 6, 2013) whereby cash payments have been…

Apple Pay launches in the UK

Cashless Payments, NewsBy SMI 14/07/2015

From today more than 250,000 shops across the UK will begin accepting Apple Pay payments, including Boots, the Post Office, Marks & Spencer, Waitrose and London’s transportation network Transport for London (TfL). Users of Apple’s NFC enabled devices can now use them to make contactless payments in retail stores as well as in-app and online…

MasterCard to use authenticating biometric “selfies”

Cashless Payments, News, TechnologyBy SMI 06/07/2015

A report by news channel CNN-Money has announced that MasterCard will begin to trial the use of biometric payment authentication by approving online purchases with facial scanning. Customers will be able to scan their faces using their mobile phone’s camera – commonly referred to today as a “selfie”. The reason behind this innovation is simple:…

Mobile payments encourage tipping

Cashless Payments, NewsBy SMI 26/06/2015

An article by American news channel CNBC reports of an increase in tipping within some service businesses since the introduction of mobile payments. Restaurants are reporting that they have seen an increase in the percent value which has been given as a tip when paying for their meal since they installed mobile payment systems within…