The electronics giant is working with digital security company Gemalto to accelerate the deployment of Samsung Pay through the latter’s Allynis Trusted Service Hub (TSH)​.

UMB has become the latest bank to focus its attention on payment start-ups by directly investing in companies that graduate from the accelerator SixThirty’s programme.

Paymium, the bitcoin market place and Bitcoin payments services provider, has secured funding from Newfund, Kima Ventures, Galitt and a group of business angels. It will use the money to accelerate its European expansion.

Kash, a San Francisco-based start-up which intends to disrupt the online payments industry, has appointed Joseph W. Saunders, former Visa CEO and chairman, to its board of directors.

MasterCard has launched Start Path Global, a six-month programme that allows start-up owners from around the world to partner with the card firm, as they look to upscale their business.

Yesterday’s news that the new £20 note will be made from polymer means that only the £50 banknote will continue to be made from paper for the foreseeable future. However, according to CMS Payments Intelligence, this shift comes at quite a cost.