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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…

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…

Contactless payment limit increases to £30

Cashless Payments, News, TechnologyBy SMI 06/02/2015

From September 2015 the UK spending limit on contactless cards will increase from £20 to £30 per transaction. When the technology was first introduced the spending limit was £10, which increased to £20 following fast take-up of the payment method. The increase to £30 follows a serge in the use of contactless payments in the…

Rwandans advised to use less cash

Banknotes, Coin, Currency, NewsBy SMI 05/12/2014

According to an article by the Rwandan news agency The New Times, Rwandans have been advised to use less cash in their daily transactions to help minimise banknote wear and tear. John Rwangombwa, Governor of the National Bank of Rwanda, is promoting the use of cashless payment methods, such as electronic cards, and mobile phone…

Transport for London goes contactless today

Cashless Payments, NewsBy SMI 16/09/2014

Commuters in London will be able to use their contactless payment cards to pay for their travel fares on Tube, tram, DLR, London Overground and National Rail services from today. The new technology will work the same way as the existing pre-payment Oyster travel card service, by ‘tapping’ the contactless enabled payment card against the…

London tube to use contactless payment cards

Cashless Payments, NewsBy SMI 28/07/2014

From 16 September 2014, users of the London Underground network in the UK will be able to use contactless payment cards to pay for travel as well as the existing pre-paid Oyster cards. This includes travel on all Tube, DLR and Overground trains. They will work in exactly the same way as the current Oyster card…

Contactless payments reach Glastonbury festival

Cashless Payments, NewsBy SMI 13/06/2014

Mobile network operator EE has developed a Glastonbury festival app which will include their “Cash on Tap” contactless payment service. The telecommunications company has paired with Glastonbury organisers to produce the official Festival app which will also provide users with music line-ups, interactive maps and real-time festival updates. Using cash at festivals such as Glastonbury, which drew crowds of 250,000…

MasterCard president says ‘cash is dying, slowly’

Cashless Payments, NewsBy SMI 12/05/2014

The President of MasterCard International Markets, Ann Cairns, has recently discussed the impacts of alternative payments on the use of cash, saying that “cash is dying, slowly”. In an interview with International Business Times (IBTimes) TV, Ann Cairns said that the use of paper and cash as a payment medium accounts for 85% of the…