With the launch of Android Pay this week, it was inevitable that the conversation would turn to cash. How would it fare against not only the penetration of Apple’s payment service, but now another 25m-30m phones figure from analysts at IHS) that work with Google’s payment service?
In the infographic below from MBNA, the credit card provider’s head of Innovation, Gary Watts, says cash payments could decline by as much as 50% in the next ten years, exacerbated potentially by the introduction of yet another mobile payments service, Samsung Pay. That’s not mentioning the likelihood of a massive improvement of our network/wifi coverage. Something that small businesses are very vocal about.
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.