Fast Track which was launched by KFC UK & Ireland and AIRTAG earlier this year, the mobile wallet enables customers to order and pay in advance for their meals before they arrive at the restaurant.
KFC customers can now create a Fast Track account by using their existing PayPal account details; all they have to do is enter their username and password. Users bypass having to enter personal and bank or card details because, this information is already stored securely within their PayPal account.
“With the majority of mobile and online commerce traffic being lost during login and check-out processes, we are very excited to work with PayPal to provide KFC customers with faster alternatives that streamline the customer experience,” said Jérémie Leroyer CEO & Co-Founder of AIRTAG. “We are already seeing the majority of Fast Track orders being placed by mobile phone, and these new features will make it even more convenient for those on the go costumers to create an account, order and pay in the quickest way possible.”
“This collaboration is another step on the journey towards a wallet-less high street, where customers will be able to leave their wallet or purse at home and pay using their smartphone or tablet. Our research shows that a third of people would choose their smartphone over their wallet when leaving home – while 80% wish they could leave their wallet at home,” said Rob Harper, Head of Retail Services at PayPal UK, “We predict that by 2016 you won’t need your wallet to pay on the UK high street – your smartphone will be enough.”
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.