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This year’s Black Friday weekend showed the retail sector is struggling to keep up with the rapidly evolving payments industry. Whilst shops were preparing for in-store chaos, consumers were sitting back and doing most of their shopping online, on mobile in particular. On the banking front, the former Barclays CEO, Anthony Jenkins said that financial institutions are having their “Uber moment” – a comment that’s given extra weight by a recent surge of interest in challenger banks, not least from the UK Government, which has announced plans to create a new initiative in January to help them.

Black Friday was meant to be the day of carnage when people mindlessly barged into the nearest retailer to get as many of the supposed bargains as possible. Instead people elected to stay inside and shop online, showing how convenient payment experience is one of the most important factors when it comes to retail.

Banks are on the verge of their “Uber moment” as technological advancements are on course to force financial institutions around the world to close their branches and possibly fire half of their workforces, said Anthony Jenkins, the former chief executive of Barclays Bank.

December is off to a great start for challenger banks after three digital banks around the world either received their regulatory licences or raised significant funds.

The Swiss watchmaker has partnered with Visa to enable an NFC payment feature in its upcoming watch, the Swatch Bellamy.

The infographic from Digital Exits charts the rise of e-commerce from the early adopters who saw the opportunities created by the Internet to the behemoth it is now and what it could be in the future.