Irish Central Bank promotes cashless payments

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…

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JP Morgan files for Bitcoin-style payment system

A US patent application has been filed by JPMorgan Chase for an online payment system, resembling the Bitcoin virtual currency. The application says that its new payment system will compete with credit and debit cards for online transactions, creating “virtual cash” that will sit in an online wallet. Similarly to Bitcoin’s “blockchain” technology, each transaction…