The Brixton Pound, a hyperlocal currency used in the South London district of Brixton, is to roll out contactless terminals throughout the area.
The new system will allow customers to use their smartphones and similar devices to make payments in B£ via NFC technology.
The currency, which was set up in 2009 to encourage residents to shop at local businesses and markets, began in paper form before introducing a pay-by-text feature in 2011. 250 businesses in the area now accept payments in the physical currency, and 160 by text.
Notes feature famous faces associated with the area, such as David Bowie, the basketball player Luol Deng and the French-British secret agent Violette Szabo. The B£ creators say that they drew on the “history of strong community spirit, rich mix of culture and backgrounds,” and “vestiges of revolution, activism, change, dynamic people, and attracting the avant-garde.”
Just five areas in the UK have attempted to introduce urban currencies: Brixton, Bristol and the market towns Stroud, Lewes and Totnes. Oxford and Kingston are thought to be considering similar schemes.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.
Digital challenger bank, N26, which has been live for one and a half years and has more than 200,000 customers, rolled out a new feature that allows its customers to transfer money using Siri. All they have to do is talk to it.