Last week, contactless card payments were rolled out for rail and underground journeys across the Transport for London network – and uptake has been promising, with one in 20 commuters already making the switch.
According to TfL, over 375,000 rail trips have been paid for using contactless so far, with a further 785,000 bus journeys being paid for in this way during the same period.
The most popular tube stations for contactless payments to date are Canary Wharf, Oxford Circus, London Bridge, Victoria and Liverpool Street, says TfL.
“It is really encouraging to see over one million contactless journeys on transport across London in the first week,” said Shashi Verma, TfL’s Director of Customer Experience. “We want travelling in London to be as easy and convenient for our customers as possible and contactless is one of the steps we have taken to make that happen.”
Using Ripple's enterprise blockchain solutions, Standard Chartered has completed its first real-time cross-border payment for businesses with another major correspondent bank.
Three years on from being acquired by PayPal, Braintree, a company which allows merchants to process a range of different payments, has revealed the number of its payment transactions has increased by 25 times.
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.