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.
It’s no secret that customers increasingly prefer to use mobile banking apps to manage their cash ‘on-the-go’ over online banking.
The increase of ATMs installed away from bank branches is being driven by factors including banks' efforts to be more cost-effective, and the rise of independent ATM deployers, new research from RBR suggests.
IZettle, Square's European rival, has raised €60m ($63.4m) in new funding and has also appointed a new CFO, Maria Hedengren.
Ford Motor Co and Amazon have announced a collaboration that will see Amazon’s Alexa integrated into Ford vehicles as a voice-activated digital assistant.