Quicktap, one of the first apps to let UK customers make low value point-of-sale purchases through their handsets, is being axed.
But this decision is being marketed as a development rather than a setback. It may not spell the end of the two companies’ involvement with mobile NFC services – alternatives already exist, although details on upcoming projects are currently being kept under wraps.
“Barclaycard offers a variety of other contactless payment solutions, including contactless credit cards and PayTag,” the bank reassures customers in an email, also pointing out that EE — the network operator merging Orange and T-Mobile in the UK — has an NFC enabled mobile payment solution called Cash on Tap “which lets you tap your phone to make contactless payments.”
Last year EE developed Cash on Tap in another collaboration with Mastercard. Cash on Tap users will be able to pay for journeys on London tube, DLR and overground services with their handsets from next month. Cash on Tap will close down on October 30th.
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.